News

The following is an excerpt from Austin Frerick's new book, “Barons: Money, Power, and the Corruption of America’s Food Industry,” now out at Island Press.

Aaron M. Honsowetz recounts how Senator John Sherman’s lesser-known antitrust bill, the 1866 Post Roads Act, uprooted local barriers to entry for telegraphy companies, which led them to invest more in R&D and ultimately helped produce the telephone.

Joel Seligman's article examines the historical debate surrounding the Securities and Exchange Commission's mandatory corporate disclosure system, focusing on George Stigler's influential 1964 critique and subsequent discussions. While acknowledging Stigler's role in sparking important questions about regulatory necessity, Seligman argues that critics often underestimated the historical evidence of securities fraud and the need for public market confidence, ultimately defending the continued relevance of mandated disclosure in securities regulation.

Madhavi Singh argues that antitrust alone cannot reign in Big Tech monopolies. Antitrust efforts need to be supplemented by changes to corporate governance that incorporate the interests of all stakeholders and not just those of profit-maximizing shareholders.

Judge Amit Mehta's ruling declaring Google a monopolist in search represents a significant development in the ongoing debate about Big Tech's market dominance. This decision, stemming from a United States Department of Justice lawsuit, highlights the culmination of years of discussions and research on antitrust issues in the technology sector, particularly surrounding Google's search practices.

In new research, Shaoor Munir, Konrad Kollnig, Anastasia Shuba and Zubair Shafi explore how Google uses its web browser, Chrome, to maintain its dominance in other online markets, particularly advertising and search. Their findings contribute to an ecosystem analysis of Google’s anticompetitive behavior.

Hamid Mehran examines the governance failures at Boeing that led to safety issues with its aircraft and proposes several measures to improve the company's safety culture and accountability. Mehran suggests enhancing board accountability through increased disclosure requirements, improving FAA oversight, fostering a culture that prioritizes safety and employee concerns, and restructuring employee compensation to incentivize teamwork and vigilance in detecting safety issues.

The following is an excerpt from Herbert Hovenkamp's new book, “Tech Monopoly,” now out at MIT Press.

Roslyn Layton discusses the major outage caused by a software update from CrowdStrike. Layton explores the debate between the risks of concentrated IT security solutions as well as their benefits. She discusses the market response to the incident and examines potential solutions, including AI-driven testing and incremental rollouts, while arguing against government intervention as a fix.

Thomas Malthouse explores the skewed financial models that lead American railroads to underinvest in maintenance and profitable expansion, producing delays, derailments, and environmental catastrophes such as those that occurred in East Palestine, Ohio, in 2023.