News

Gary Kalman writes that actions under the second Trump administration to dismantle recent anti-corruption initiatives, including those pioneered during the first Trump administration, will cost dearly the American and global economy and enable many of the nefarious actors President Trump has publicly admonished.

Judge Jed S. Rakoff of the United States District Court for the Southern District of New York reflects on the history of cryptocurrency and his experience adjudicating criminal cases involving it.

The following is an excerpt from "Private Finance, Public Power: A History of Bank Supervision in America" by Peter Conti-Brown and Sean H. Vanatta, now out at Princeton University Press. 

Stigler Center Assistant Director Matt Lucky reviews Kenneth Rogoff’s new book, Our Dollar, Your Problem: An Insider’s View of Seven Turbulent Decades of Global Finance, and the Road Ahead, which reflects on the rise and ongoing fall of the American dollar’s global dominance. Rogoff discusses his book with Bethany McLean and Luigi Zingales on this week’s Capitalisn’t episode, which you can listen to here.

Anat R. Admati reviews Unjust Debts: How Our Bankruptcy System Makes America More Unequal (2024) by Melissa B. Jacoby.

In new research, Marcel Preuss, Germán Reyes, Jason Somerville, and Joy Wu find that MBA students’ attitudes toward inequality and fairness vary from those of the average American. As these students will one day form the business and political elite of the United States, the findings have implications for the future of inequality in the U.S.

In new research, Axel Gottfries and Gregor Jarosch develop a model to understand how wage-fixing cartels operate and show how to gauge the harm they cause to workers.

Judge Amit Mehta will shortly provide his remedy to Google’s monopoly in internet search. Fiona Scott Morton and Paul Heidhues argue that the remedy must include a cap on Google’s payments to the mobile phone manufacturers, carriers, and web browsers that propelled its monopoly. Because any outright ban risks harming Google’s current partners in the short term, Judge Mehta should consider pursuing a flexible ban that instead limits the revenue these partners can receive from Google in order to encourage market entry and competition.

The second Affiliate Fellows cohort at the Stigler Center at Chicago Booth is a multidisciplinary group of economists, business scholars, lawyers, and political scientists.

Most users on social media have encountered toxic content: rude, disrespectful, or hostile posts or comments. A study using a browser extension estimates the effect of toxic content on user engagement and welfare.