John G. Matsusaka

John G. Matsusaka is the Charles F. Sexton Chair in American Enterprise at the University of Southern California (Marshall School of Business, Gould School of Law, and Department of Political Science), and author of Let the People Rule: How Direct Democracy Can Meet the Populist Challenge (2020).

A Challenge for Stakeholder Capitalism: Solving the Paradoxes of Voting

If corporations are to maximize shareholder welfare, managers need to discover what shareholders value; political theory shows how difficult this can be.

How to Get Police Reform Done? Use Direct Democracy

Instead of just imploring their representatives to fix things, Americans can use the tools of direct democracy to take charge and promote...

Turning Corporations into Democracies

The problem with encouraging firms to maximize shareholder welfare is how to prevent managers and special interests from diverting corporate resources in the name of shareholder...

Does Empowering Shareholders Also Empower Special Interests?

The merits of increasing shareholder power are less obvious than reforms that increase companies' exposure to pressure from activist shareholders, since increasing shareholder power tends to...

Enhancing Competition? The Role of Governance in Increasing Exposure to Competition

Contemporary corporate governance reform has been a mixed bag: reforms that increase a company’s exposure to competition through the control market have been helpful,...

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Most Americans Consider Themselves Middle-Class. But Are They?

There are different ways of determining who should be considered middle-class. But there is one thing they have in common: all reveal...

Barriers to Entry as Another Source of Top Income Inequality

A new book, The Power of Creative Destruction, explores how lobbying contributes to the increase in the top 1 percent’s share of...

ProMarket Reader Survey: We Want Your Feedback

As ProMarket enters its sixth year of operation, we would like to understand what you, our readers, like about it and what...

What Stakeholder Capitalism Can Learn From Jensen and Meckling

Jensen and Meckling’s 1976 article is an academic classic, but heavily criticized by stakeholder capitalists for arguing that corporate structures should be...

How Twitter Weakened India’s Information Ecosystem

India’s Covid-19 crisis is a reminder that Indian democracy is also in a crisis, partly due to an information ecosystem where facts...

Eliminating Baseball’s Antitrust Exemption Won’t End the Georgia Political Boycott

There are good arguments for getting rid of baseball's long-standing exemption from antitrust laws, but the reason cited by Republican Senators angry...

Europe Lacks a Vision for How Apple’s App Store Fees Should Work

The European Commission believes that Apple is violating European competition laws and raising prices for consumers in how it operates its App...