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International Economics

Antitrust and Competition

Brazil’s Fair Digital Competition Bill Offers an Alternative to Regulating Big Tech

Beatriz Kira
Beatriz Kira argues that Brazil’s proposed digital competition bill shows how the Global South can strengthen regulation of Big Tech platforms without forfeiting competitiveness. Brazil’s efforts build on global models yet chart their own course and belie the false dichotomy between encouraging national business development and protecting competition and its benefits.
Antitrust and Competition

Whither Pro-Competitive Industrial Policy?

Laura Phillips-Sawyer
Laura Phillips-Sawyer writes that history shows that antitrust and industrial policy have often served as complements to one another. Industrial policy has succeeded when it has targeted specific industries to invest in their ability to compete, rather than protect them from competition.
Antitrust and Competition

How the Pursuit of Bigness, Geopolitical Hegemony, and Crony Capitalism Are Threatening Antitrust’s Rule of Law

Eleanor Fox
Eleanor M. Fox and Harry First warn that global strategies and political pressures are undercutting the neutral, rule-of-law competition system.
Antitrust and Competition

Europe Needs First A Consolidated Internal Market. Business Consolidation May Follow

Xavier Vives
Xavier Vives argues that to create firms that can compete on the international level, the European Union does not need to ease its merger regime or encourage market power. Rather, encouraging European market integration will allow firms to draw in investment and scale up their operations.
Fiscal Policy

Market Power Shifts Tariff Costs to Suppliers

Vanessa Alviarez
Many studies have assumed that United States tariff costs are passed onto consumers. In new research, Vanessa Alviarez, Michele Fioretti, Ken Kikkawa, and Monica Morlacco argue that buyer-seller relationship dynamics allow dominant U.S. importers to instead force higher costs onto exporters.
Commentary

Will Trump’s Drug-Pricing Order Reduce Prices for Americans?

Margherita Colangelo
President Donald Trump has, across two administrations, sought to lower drug prices for Americans, most recently with executive order “Delivering Most-Favored-Nation Prescription Drug Pricing to American Patients.” Margherita Colangelo explains why his order is unlikely to accomplish its goal.
Development

Global Financial Liberalization Has Failed To Live Up to Its Promise

Damien Capelle
In new research, Bruno Pellegrino and Damien Capelle find that while global capital markets have grown dramatically over the past five decades and reached new jurisdictions, the uneven pace of financial liberalization has failed to reallocate capital to lower-income countries, reduced world GDP by 5.9%, and increased inequality between rich and poor countries.
Commentary

China Is Using Its Market Power To Influence Foreign Policymaking

Audrye Wong
Audrye Wong writes that China is able to use its market power to pressure foreign companies and business leaders—perhaps most notably Tesla CEO Elon Musk—to lobby on its behalf. The practice raises questions about foreign influence in American and European policymaking and the disproportionate clout of business and oligarchic interests.
Commentary

A Tale of Tariffs and the Making of the Modern Offshore Market

David Chan Smith
David Chan Smith argues that tariff regimes during the eighteenth century encouraged modern history’s first offshore markets to reroute goods through jurisdictions that faced lower tariff rates. This historical “entrepôt trade” could outstrip the legal trade of some goods and carries lessons for contemporary revisions to international trade.
Book Excerpts

Conscience Incorporated

Michael Posner
The following is an excerpt from Michael Posner’s recent book, Conscience Incorporated: Pursue Profits While Protecting Human Rights, reprinted here with permission from NYU Press.
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