Regulatory Capture

Implicit Government Involvement In The Puerto Rican Debt Crisis

Why were Puerto Rico's economic and financial troubles not reflected in its bond yields prior to its 2016 default? A Stigler Center working paper...

Is Liberal Democracy Doomed? A Q&A With Yascha Mounk

Mounk, author of the recent book The People vs. Democracy: Why Our Freedom Is in Danger & How to Save It, talks to ProMarket about...

Loose Policies Around Close Elections Highlight the Political Limits of Macroprudential Regulation

What can policymakers do to prevent future financial crises? An emerging consensus holds that so-called macroprudential regulation is key: policies that aim to mitigate...

A Former Central Banker Tells Other Central Bankers: “Stay Away From Davos”

In an interview with ProMarket, former Bank of England deputy governor Sir Paul Tucker explains why the “unelected power” of central bankers threatens our...

Livestreaming Polluters to Enforce Environmental Policy: Evidence from a Natural Experiment in Pittsburgh

Enforcing environmental regulations is controversial and can be costly. But researchers at UCLA and Carnegie Mellon have proposed a low-cost alternative for enforcement—disclosing emissions...

Does Direct Democracy Reduce Regulatory Capture?

Does direct democracy make regulatory capture harder for industry? Samantha Eyler-Driscoll looks at a new Stigler Center working paper that examines state-level referenda and...

Why Are So Many Executives Running for Office These Days?

New research documents a sharp increase in the number of corporate executives in elected federal office between 1980 and 2014. But why do they...

How Politicians Intensify Financial Cycles: 300 Years of Pro-Cyclical Regulation

Three hundred years of financial regulation offer a cautionary tale to today’s push against yesterday’s regulations. This column revisits the political economy of financial...

Rethinking Stigler’s Theory of Regulation: Regulatory Capture or Deregulatory Capture?

Much government regulation does not fit the logic of Stigler’s theory of anti-competitive regulatory capture. In a new book, Steven Vogel of Berkeley argues...

The Only Game in Town: Central Banking as False Hope

To accompany Paul Tucker’s mini-course at the Stigler Center this week, we offer here an extract of the former Bank of England Deputy Governor’s...

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Bethany McLean’s Weekend Reading List: Eastman Kodak, Private Equity Hospitals, and America’s First Female Recession

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

Tech Monopolies Are the Reason the US Now Has a TikTok Problem

Tech platforms like Facebook say we should protect, empower, and celebrate their concentrated power for the sake of America’s national security. But...

Police Stops of Black Drivers Increase Following Trump Rallies, New Study Suggests 

A new study looks into how Trump's 2016 presidential campaign affected police behavior toward Black Americans and finds that the probability that...

Big Tech Is Officially Too Big to Manage

Last week’s Congressional hearing on Big Tech showed the CEOs of the four largest tech platforms unable to answer basic questions about...

The House’s Big Tech Hearing: Break Ups Large and Small?

Last week’s epic House hearing on online platforms raised many issues, chief among which was the question who gets to operate at...

How Hedge Fund Performance Fees Fail Investors

In the hedge fund industry, there is a material disconnect between funds’ lifetime performance and lifetime incentive fees for managers. A new...

Bethany McLean’s Weekend Reading List: Google, Shale, and Fraudulent Honey

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.