Regulatory Capture

“The Antitrust Doctrine We’ve Seen Over the Last 40 Years Simply Does Not Match the Lived Experience of People”

In an interview with ProMarket, investigative journalist David Dayen discusses the toll that monopoly power takes on the lives of ordinary Americans...

Special Interests Hide Behind Regulatory Myths

Three myths about federal regulation help prevent much of the public, and many experts, from realizing how many regulations serve to promote...

Why the Political Misuse of Antitrust Must be Prevented

Misuse of antitrust for partisan purposes violates a norm intended to insulate enforcement from direct political influence and discourage politicians from exploiting...

A New Stigler Center Case Study Explores the Link Between Italy’s Morandi Bridge Disaster and Crony Capitalism

Two years ago, the Morandi bridge collapse claimed 43 lives. Based on financial statements, Italian government documents, and interviews with independent experts...

What is the Connection Between Collective Bargaining and Police Officer Misconduct? Evidence from Florida

A working paper finds that after sheriffs’ deputies in Florida were allowed to unionize, violent incidents increased by 40 percent.

When Scholarship Turns Into Business: Stefano Feltri Responds to Paul Milgrom

Stefano Feltri responds to Paul Milgrom’s criticisms of his recent ProMarket piece on the 2017 FCC spectrum auction.

Should We Leave Public Resource Allocation to the Experts? Glen Weyl Responds to Paul Milgrom

Glen Weyl, Microsoft’s Office of the Chief Technology Officer Political Economist and Social Technologist, responds to Paul Milgrom’s criticisms of his recent...

Was the 2017 FCC Spectrum Auction a Success—or a Disappointing Failure?

In a post published on his company’s website, Stanford professor Paul Milgrom responded to the recent ProMarket pieces by Glen Weyl and...

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...

Break Up the Police

In most cities in America, it is not the police that answers to the mayors, but the mayors to the police. The...

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Bethany McLean’s Weekend Reading List: Wirecard, Covid-Overwhelmed Hospitals, and Plastic

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

“50 Years Later, It’s Time to Reassess”: Raghuram Rajan on Milton Friedman and Maximizing Shareholder Value

The biggest problem with shareholder value maximization is that it completely turns a tin ear to politics. The alternative is to maximize...

It Is Time to Move on From Friedman’s View of the Corporation

The anti-CSR position defended by Friedman would be acceptable only under conditions that have never been met by any real-world economy. Furthermore,...

Corporations Are Already Plenty Powerful. Stakeholder Capitalism Could Make Them More So

Encouraging corporations to further step into the role of governments and civil society groups by becoming more "socially focused" risks greater depreciation...

The Real Effects of Environmental Activist Investing

A new study examines the efficacy of climate-focused investor engagements initiated by the New York City Pension System. Its findings support the...

For Whom Corporate Leaders Bargained: What the Past Can Teach Us About the Questionable Promise of Implementing Stakeholder Capitalism Today

The debate about stakeholder capitalism should seek to learn from our experience with constituency statutes, which authorized corporate leaders to take into...

The Enduring Wisdom of Milton Friedman

Shareholder value maximization has been extremely successful globally in the way that matters most because, in many cases, maximizing shareholder value is...