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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Commentary

The Intellectual Family Tree of Nobel Winner Claudia Goldin

Robert A. Margo
Robert Margo discusses the influences of his colleague and recent Nobel Prize-winning economist Claudia Goldin, as well as her influence on other scholars.
Antitrust and Competition

Four Misconceptions About the Consumer Welfare Standard

Nicolas Petit
Nicolas Petit and Lazar Radic refute common critiques of the consumer welfare standard. A second article will discuss the advantages and disadvantages of different antitrust standards, underscoring some points often ignored by the critics of the consumer welfare standard.
Commentary

Claudia Goldin: A Master at Breaking New Ground In Economics by Unearthing Unusual Data

Cecilia Rouse
Cecilia Rouse, a colleague and former student of Claudia Goldin, explains Goldin’s perseverance in unearthing datasets that allowed her to document trends in labor and education, particularly with respect to women. Rouse also praises Goldin’s courage to prioritize the study of women and discusses what it was like to work with the recent Nobel Prize- winning economist on seminal work.
Antitrust and Competition

Big Tech Calls for Agency Heads To Recuse Are a Groundless and Cynical Strategy To Obstruct Enforcement

Laurence H. Tribe
Big Tech’s efforts to push Federal Trade Commission Chair Lina Khan and Assistant Attorney General Jonathan Kanter to recuse themselves from participating in lawsuits against the companies due to prior work have no legal basis and are naked efforts to weaken agency enforcement, writes Laurence Tribe.
Antitrust and Competition

How the FTC Could Have Used Its Draft Merger Guidelines To Argue Against Microsoft-Activision and Meta-Within

Joshua Gray
Joshua Gray and Cristian Santesteban show how the Federal Trade Commission could have used its 2023 draft Merger Guidelines to focus its challenges against Microsoft-Activision and Meta-Within squarely on the pressing economic concern of protecting competition during critical technological transitions making full use of the law’s traditional incipiency standard.
Commentary

Why Claudia Goldin Won the Nobel

Marianne Bertrand
Marianne Bertrand describes the contributions of Claudia Goldin, this year's Nobel prize winner in economics, as well as her relationship with Goldin as a colleague.
Commentary

The Macroeconomic Implications of Falling Real Estate Prices

Joseph L. Pagliari Jr.
In this second article on real estate in the current high-interest-rate environment, Joseph L. Pagliari Jr. explores banks’ exposure to commercial real estate, who might help fill the credit void as bank funding dries up, how the work-from-home phenomenon impacts commercial real estate prices, particularly the office sector, and what risks large urban centers face with emptied office buildings.
Commentary

Evaluating Concerns of Collapsing Commercial Real Estate Prices

Joseph L. Pagliari Jr.
There are concerns among bankers and economists that commercial real estate prices are at risk of decreasing substantially. Joseph L. Pagliari, Jr. explains how commercial real estate should be priced based on current and projected inflation and interest rates. A subsequent article will explore if concerns about bank and broader economic vulnerabilities to lower CRE prices.
Antitrust and Competition

Fixing Platform Monopoly in the Google Search Case

Herbert Hovenkamp
Google is on trial for anticompetitive behaviors designed to protect its monopoly in internet search. Herb Hovenkamp analyzes several possible remedies the presiding court and Department of Justice could pursue and suggests which ones may succeed in reinforcing competition to protect consumer interests.
Commentary

Brazil Demonstrates the Challenge of Balancing Growth and Sustainability

Stephanie Tondo
The return of Luiz Inácio Lula da Silva as president of Brazil accompanies a renewed emphasis on sustainability. However, discrepancies in his rhetoric and the policy of his administration reveals a rift between the administration’s twin goals of sustainability and economic development, writes Stephanie Tondo
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.