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Commentary

An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation.
“People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty and justice.” Adam Smith – An Inquiry into the Nature and Causes of the Wealth of Nations (1776)

Antitrust and Competition

Missing the Forest for the Trees: A Reply to Hovenkamp and Shapiro

Hal Singer
The Federal Trade Commission’s now-abandoned 2020 Vertical Merger Guidelines were not some ideal economic document that the FTC foolishly disregarded; rather, they failed spectacularly...
Antitrust and Competition

How Will the FTC Evaluate Vertical Mergers?

Carl Shapiro
The Federal Trade Commission’s recent withdrawal of its 2020 vertical merger guidelines is flatly incorrect as a matter of microeconomic theory and is contrary...
Commentary

The Costs of Political Misalignment: Forest Fires and Bank Loans in Turkey

Orkun Saka
Recent wildfires in Turkey have not only destroyed more than 95,000 hectares of its coastal forestland but also divided the country further into its...
Antitrust and Competition

Antitrust Enforcement Is Not Enough to Address Anticompetitive Conduct in Pharmaceutical Markets. Market-Oriented Legal Reform is Needed.

Alden Abbott
Federal antitrust enforcement has been robust and effective in promoting prescription drug market competition and thereby enhancing consumer welfare. Antitrust enforcement in itself, however,...
Antitrust and Competition

Competition Problems in Prescription Drug Market

Michael Kades
Although not the sole cause of high prescription drug costs, abusive practices that distort competition contribute to the problem. Too many companies exclude competition...
Antitrust and Competition

The Profit Paradox: A New Approach to Competition and Market Power

Simcha Barkai
Jan Eeckhout’s recent book The Profit Paradox is a serious attempt to explain rising market power and its implications to a wider audience. While...
Antitrust and Competition

The Unchecked Market Power of the American Health Care System

David Ennis
Chicago Booth alumnus and retired health care consultant David W. Ennis responds to ProMarket’s recent coverage on antitrust and the US health care system....
Commentary

Why Corporate Purpose is Important to the Recovery From the Pandemic

Martin Lipton
A new initiative seeks to encourage directors, managers, asset owners, and other internal and external stakeholders to collaborate on articulating an actional principle of...
Commentary

Unsettled: What is the Economic Impact of Climate Change?

Steven Koonin
In his book Unsettled: What Climate Science Tells Us, What It Doesn’t, and Why It Matters, Steven Koonin explores misconceptions and shortcomings in the media's...
Antitrust and Competition

Big Tech’s Tightening Grip On Internet Speech

Gregory M. Dickinson
Social media platforms have so transformed American life that many now view online speech as a right of citizenship—a right to be protected against...
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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.