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“Under President Trump and the Republican Congress, Banks Will Have Even More Ability to Write Regulations That Favor Them”

In this installment of ProMarket’s new interview series on the economic theory of the firm, we ask University of Connecticut law professor and blogger James Kwak if the existing theory should be modified. “Corporations tend to favor policies that allow greater concentration and reduce constraints on their behavior.”

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Bengt Holmstrom. © Bryce Vickmark. All rights reserved.

Bengt Holmstrom: “I’m More Concerned About the Economic Power of the Most Valuable Companies Than Their Political Power”

In this installment of ProMarket’s new interview series, Nobel laureate Bengt Holmstrom says “this may be the right time to look at political engagement by corporations” and discusses the recent wave of populist discontent. “It is clearly a time of change and we will be forced to rethink how we can reaffirm our commitment to democracy.”  

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“Political Engagement by Corporations Would Be Far Down the List of Forces Responsible for Popular Discontent”

The third installment in ProMarket’s new interview series on the economic theory of the firm. In this installment, we ask Chicago Booth’s Steven Kaplan how the existing theory should be modified, if at all. “The biggest source of populist discontent is the dislocation caused by technological change and globalization.”  

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Theory of the Firm Interview Series: John Van Reenen

The second installment in ProMarket’s new interview series: Should the economic theory of the firm be modified? If so, how? In this installment, we ask MIT’s John Van Reenen. “Since markets in the U.S. and other advanced countries have become increasingly concentrated in the hands of a smaller number of “superstar” firms, the ability of such firms to influence market rules has also strengthened.”

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Interview Series: How Incomplete is the Theory of the Firm? Q&A with Daniel Carpenter

Should the economic theory of the firm be modified? If so, how? In March, the Stigler Center at the University of Chicago Booth School of Business, Harvard Business School, and Oxford University will organize a conference to answer these questions and more. Ahead of the conference, we are launching an interview series with influential scholars in the field. In the first installment, Daniel Carpenter answers our questions: “the profitability and survival prospects of many firms in the coming years will depend heavily, in a polarized environment, on the political skills of managers.”

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Campaign Financing Capture Index: 37.8 Percent of Clinton’s Donations Come From the Top 0.1 Percent of Her Donors

30.7 percent of Clinton’s contributions came from donors who contributed more than $100,000. Clinton’s main super PAC raised $8.08 million in July–nearly all of it from donors who gave more than $100,000. A distribution analysis of the candidates’ donor pools shows that the top 0.1 percent of Clinton’s donors account for nearly 38 percent of her total campaign contributions.   

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