Steven M. Teles

Steven M. Teles is associate professor of political science at Johns Hopkins University and a senior fellow at the Niskanen Center. This piece is adapted from their upcoming book “The Captured Economy: How the Powerful Enrich Themselves, Slow Down Growth, and Increase Inequality”(Oxford University Press).

Excessive Zoning Makes Us Poorer and More Unequal

We normally think of income inequality as a function of differences in class or socioeconomic status. But much more than generally realized, geographic differences...

How Regulation Subsidizes Big Finance

If you want to understand how the US economy is producing big gains for those at the top and stagnation for everybody else, the...

How Medical Licensing Drives Up Health Care Prices

The role of licensing in driving up health care costs has been almost completely ignored. The apparent explanation is that nobody can imagine that...

Intellectual Property Laws: Wolves in Sheep’s Clothing

The excesses of IP law are now a serious obstacle to innovation and economic growth. In the rogues’ gallery of regulatory rent-seeking, copyright and patent...

Worried About Concentration? Then Worry About Rent-Seeking

Rent-seeking is a, if not the, mother of excess market power. The apparent increase in U.S. industrial concentration has raised growing concerns about weakening competition...

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