Regulatory Capture

The Mechanisms of Regulatory Capture

To mark the 50-year anniversary of George Stigler’s seminal piece, “The Theory of Economic Regulation” we are publishing a new eBook examining his theory’s...

Fear of Punishment Distorts Bank Financial Reporting

When bank employees are afraid of punishment from regulators, they are likely to conceal information about their faulty decisions. This in turn distorts the...

Delaware: The State Where Companies Can Vote

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us All, published...

Are “Bankruptcy Directors” Bad for Creditors?

A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join corporate boards...

Why Financial Regulations Might Fail to Produce Their Desired Outcome: The Case of the Capital Conservation Buffer

The capital conservation buffer (CCB) was created after the 2008 financial crisis, instructing banks to retain their dividends in an escrow account and create a...

Big Tech, the FTC, and Ordoliberals: ProMarket’s Top Stories of 2021

As 2021 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year. In a year marked by a...

The Best Political Economy Books of 2021

A scholarly examination of market’s power toll on American workers, the collected works of a pioneering economic thinker, an ambitious narrative of US economic...

How Interest Groups Utilize Reverse Revolving Doors to Influence Legislative Voting

A new study finds that legislators who worked for interest groups before taking office influence the voting behavior of their colleagues when the motion...

Unreliable Accounts: How Regulators Fabricate Conceptual Narratives to Diffuse Criticism

In 2010, as the world was reeling from the global financial crisis, the body that determines generally accepted accounting principles for listed corporations in...

The Future of Money: The Case for Central Bank Digital Currencies

"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar Prasad in...

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