Money in Politics

The Cantillon Effect: Why Wall Street Gets a Bailout and You Don’t

According to the 18th-century French banker and philosopher Richard Cantillon, who benefits when the state prints money is based on its institutional setup. In...

“Democracy Is Influenced by Lobbyists, That’s Why the People Also Need Someone to Lobby for Them”

“Individuals usually don’t have enough incentive to take action, even though it is clear they will be collectively better off by taking action.” In...

How to Avoid a Mass of Business Bankruptcies: Two Policy Proposals

Existing fiscal and monetary policies are powerless to restore firms’ revenues during this health emergency. Many firms will soon begin having trouble meeting their...

The Populist Right Has a Plan to Take Power Away From Financiers and Challenge China

The nationalist rhetoric of the Trump administration can obscure a more sophisticated recognition by some people in the populist world that the core dynamic...

MBA Students Against Corporate America: “Stop Lobbying the White House on the Defense Production Act”

Since the virus outbreak, the US Chamber of Commerce has lobbied the federal government to limit the use of a piece of legislation that...

Covid-19, Central Banks, and Debt Monetization: a Webinar With Olivier Blanchard

Princeton Professor Markus Brunnermeier and former IMF chief economist Olivier Blanchard discuss the impact of the current global health crisis on public finances and policy...

How Private Equity Companies Are Lobbying to Profit from The Covid-19 Economic Fallout

Private equity funds aren’t just seeking to save the investments they already have, but to get access to more capital to invest in a...

A New Capitalisn’t Episode: Winners and Losers in the Stimulus Bill – a Reading List

In order to combat the coronavirus, Congress has passed a $2 trillion stimulus bill that targets individuals, small businesses, and large corporations. From an...

“The Way Insurance Companies Have Rigged Our Health Care System, They’re Probably Going to Emerge as Financial Winners from This”

Author and former health insurance executive Wendell Potter explains to ProMarket why the employer-based health care system in the US is “collapsing” and why health...

The Stimulus Package Is Too Expensive and Poorly Targeted: The Waste Contained in the CARES Act

A cost-effective stimulus to mend the effects of a 24 percent drop in GDP would cost no more than $1.3 trillion over a 6-month...

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How the Rise of Labor Market Power Helps Explain the Fall of US Manufacturing Employment

A new working paper explores the increase in labor market power in the US and what’s driving it. It shows manufacturing workers...

How Manufacturing’s Lobby Won and Lost its Political Influence

What happens when supporting capitalism hurts capitalists? Do business lobbies ever control the economy to the extent we think they do? The...

How Apple Locks Out the Competition with Its Digital Key

Apple’s efforts to dominate the contactless payments market and lock up the “digital key” space pose a profound threat to consumer privacy...

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

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

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

In an excerpt from his new book Ripe for Revolution: Building Socialism in the Third World, Harvard Business School professor Jeremy Friedman...

How Much Can We Trust Index Funds on Climate Change?

According to a theory that is gaining support among academics and practitioners, we should expect index fund managers to undertake the role...

The Ties that Bind Workers to Firms: No-Poach Agreements, Noncompetes, and Other Ways Firms Create and Exercise Labor Market Power

Collusive no-poach agreements are per se illegal, but noncompete clauses are not. Recent research casts doubt on the rationale for this legal...