Commentary

The Incoming Currency War

Four powerful forces—cryptocurrencies, the decoupling of geographical and monetary boundaries, ad-based digital platforms’ foray into the world of payments, and the value...

Charting a Path Forward for College Athletes to Receive Pay

How should colleges pay their student-athletes? A likely model lies with another group of university students, who like near-pro athletes receive tuition...

George Stigler’s Errors and Their Virtues

George Stigler might have been wrong in his essay on economic regulation, but his influence is undeniable. The unity of purpose in...

The House’s Recent Spate of Antitrust Bills Would Change Big Tech as We Know It

If enacted, the five bills that were introduced in the House this month would represent the most dramatic statutory changes to US...

Congress’ Antitrust War On China and American Consumers

The latest bills currently debated in Congress regarding Big Tech—the US Innovation and Competition Act that was passed by the Senate this...

Fake Comments Cause Real Harm: How the Public Comment Process Was Corrupted

Turning a blind eye to the corruption of the public comment process—or worse, lumping together genuine mass comments with fraudulent comments—corrupts the...

How Sadie Alexander, the First Black Economics PhD, Became a Voice for Black Workers

A whole century has passed since Sadie Alexander became the first African American to receive a PhD in economics in the United...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

More Than 20 Years of Consolidation Have Led to a Dysfunctional Health Care Market

The US health care system is based on markets, which do not function as well as they could, or should. Prices are...

Invigorating Competition in Health Care Markets: Is Rate Regulation Needed?

It now appears that market concentration may be the leading cause of America’s health care cost crisis. If the United States is...

Latest news

How the Rise of Labor Market Power Helps Explain the Fall of US Manufacturing Employment

A new working paper explores the increase in labor market power in the US and what’s driving it. It shows manufacturing workers...

How Manufacturing’s Lobby Won and Lost its Political Influence

What happens when supporting capitalism hurts capitalists? Do business lobbies ever control the economy to the extent we think they do? The...

How Apple Locks Out the Competition with Its Digital Key

Apple’s efforts to dominate the contactless payments market and lock up the “digital key” space pose a profound threat to consumer privacy...

The Dawn of Antitrust and the Egalitarian Roots of the Sherman Act

While it isn’t particularly controversial that concentrated economic power was a legislative target of the Sherman Act, when read as a corollary...

The Varied Ideologies—and Practices—of Socialist Nations in the Developing World

In an excerpt from his new book Ripe for Revolution: Building Socialism in the Third World, Harvard Business School professor Jeremy Friedman...

How Much Can We Trust Index Funds on Climate Change?

According to a theory that is gaining support among academics and practitioners, we should expect index fund managers to undertake the role...

The Ties that Bind Workers to Firms: No-Poach Agreements, Noncompetes, and Other Ways Firms Create and Exercise Labor Market Power

Collusive no-poach agreements are per se illegal, but noncompete clauses are not. Recent research casts doubt on the rationale for this legal...