Regulatory Capture

Lobbying for Globalization: How the Winners Dominate the Politics of Trade Agreements

Lobbying on free trade agreements has been dominated by a few very large firms, which experience large gains as a result of the entry...

George Stigler’s Paper on Regulation and the Rise of Political Economy

George Stigler’s “The Theory of Economic Regulation” is not just the founding paper of economics of regulation. It is also a founding paper of...

Of Antitrust and Patents: the Quiet Return of the Status Quo at the DOJ’s Antitrust Division

Without Senate-confirmed political leadership, the Department of Justice quietly reverts to an Obama-era policy that favors Big Tech. The consistent theme running through Makan Delrahim’s...

Stigler’s Interest-Group Theory of Regulation: A Skeptical Note

As a rule, regulation is not acquired by “the industry,” and it is not designed and operated primarily for its benefit. The mechanisms behind...

The Durable Impact of Stigler’s Theory of Economic Regulation

George Stigler’s “The Theory of Economic Regulation” was an early application of public choice reasoning to a practical problem—the work of regulatory agencies. It...

Economic Regulation After George Stigler

George Stigler’s “The Theory of Economic Regulation” has left a lasting impact on the academic and real-world practice of regulatory policy. Fifty years after...

The Texas Power Failure: How One Market Model Discovered Its Natural Limits

Relying on marginal market prices to provide the incentives for the production and delivery of electricity means that all of the biophysical things enrolled...

The Texas Blackouts and the Problems of Electricity Market Design

Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are rarely in...

Morale At the DOJ’s Antitrust Division Has Plummeted. Here’s How to Fix It

The Biden administration should work to reverse the declining morale since a re-energized Antitrust Division will translate into more effective, innovative enforcement efforts.   The...

OpenLux: Why the Era of Financial Secrecy Needs to End

The #OpenLux investigation underlines that, despite undeniable progress in terms of transparency, there is still considerable work to be done in the fight against...

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