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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)

Commentary

How to Interpret Financial Market Movements to Predict the Impact of Coronavirus on GDP

Ralph S.J. Koijen 
Equity markets in the EU and US dropped by as much as 30 percent, which means that investors have revised downward their estimate of...
Antitrust and Competition

Bethany McLean’s Weekend Reading List: the Pandemic’s Long-Term Consequences

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.      Of course, this weekend's list is mostly...
Commentary

The ECB Can Save the Italian Economy and Prevent a New Euro Crisis Triggered by Covid-19 Fallout

Olivier Blanchard
The Italian government's effort to contain the coronavirus will have significant economic consequences. Italy should be allowed to ask for emergency help with one...
Commentary

Governments and Central Banks Have a Few Unpleasant Options to Stop the Economic Contagion

Stefano Feltri
The global economy and financial markets are seriously hit by the coronavirus outbreak. Central banks can do something, but monetary policy is not enough.  A fiscal stimulus might mitigate the impact, but the record-level outstanding amount of public and private debt adds additional risk to the current perfect storm.  
Commentary

Why Coronavirus Triggered the First Global Supply-Chain Crisis

Stefano Feltri
The only reason why there is no shortage of goods in American markets is that the epidemic outbreak was close to the Chinese New...
Antitrust and Competition

US Big Business vs China: How Monopolies Harm National Security

Matt Stoller
China’s goal is to concentrate power, both within China and over Western industrial commons. The best reaction is not to mimic Chinese autocratic control...
Commentary

Who Won the South Carolina Democratic Debate? The ProMarket Panel's Analysis

ProMarket writers
Is Bernie Sanders inevitable, and is Michael Bloomberg doomed? Which candidate would be best suited to avoid a recession in the US? A ProMarket...
Commentary

Sanders Is Leading the Democratic Primaries, but Don't Bet on an Open Convention

David Lawsky
Bernie Sanders is a polarizing front-runner, but there are many reasons to believe the Democratic convention this summer is unlikely to repeat the drama...
Commentary

Do Top Economics Journals Hold Female-Authored Papers to Higher Standards?

Erin Hengel
Articles written by male economists are cited less than articles published by women in the same journals, a new study on gender and quality...
Commentary

“Is the Market Actually Efficient? No, It Is Only a Very Powerful Narrative”

Christoph Gisiger
A conversation with Nobel Prize laureate Robert Shiller on his new book, Narrative Economics: "Economists do not study narratives systematically, but they shape the...
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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.