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Economic History

The current debate in economics seems to lack a historical perspective. To try to address this deficiency, we decided to launch a Sunday column on ProMarket focusing on the historical dimension of economic ideas.

Antitrust and Competition

A Posner-Stigler Smoking Gun?

Herbert Hovenkamp
A memo from George Stigler and Richard Posner to the Reagan administration was recently unearthed. To understand the meaning behind the memo, as well...
Economic History

Why Jean Fourastié’s Theory of Economic Development is Still Relevant Today

David Le Bris
In 1949, the innovative French economist and policymaker Jean Fourastié introduced a theory of growth and technological development that economists could still use today,...
Antitrust and Competition

The Rise, Survival, and Potential Fall of the Reagan-Era Antitrust Consensus

Brian Cheffins
With major antitrust reform in the air, Brian Cheffins explores how and why a now highly controversial antitrust consensus that emerged under Ronald Reagan...
Economic History

How China Became a Global Economic Powerhouse Through an Idiosyncratic Approach to Market Capitalism

Isabella M. Weber
Chinese reformers after the death of Mao Zedong in 1976 agreed that it was necessary for China to move towards marketization, but struggled over...
Economic History

The Communist Origins of China’s Embrace of Markets

Jason M. Kelly
In an excerpt from his book Market Maoists: The Communist Origins of China’s Capitalist Ascent, Jason M. Kelly explores the commercial relationships and selective...
Antitrust and Competition

How the Free Software and the IP Wars of the 1990s and 2000s Presaged Today’s Toxic, Concentrated Internet

Elettra Bietti
How did the internet evolve from a relatively decentralized, hybrid, and democratizing space toward a concentrated, privatized environment controlled by a handful of actors?...
Economic History

When Milton Friedman Sided With Keynes Over Hayek on Inflation

Nicholas Wapshott
In an excerpt from his book Samuelson Friedman: The Battle Over the Free Market, Nicholas Wapshott explores the disagreements between Friedman and Hayek over...
Economic History

How Manufacturing’s Lobby Won and Lost its Political Influence

Jennifer Delton
What happens when supporting capitalism hurts capitalists? Do business lobbies ever control the economy to the extent we think they do? The tumultuous history...
Antitrust and Competition

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

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

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

Jeremy Friedman
In an excerpt from his new book Ripe for Revolution: Building Socialism in the Third World, Harvard Business School professor Jeremy Friedman explores the...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.