type here...

Regulatory Capture

When regulation protects narrow interests – usually the interests of the incumbent industry – at the expense of the public interest. Capture occurs in various ways: from straightforward bribes and threats, to more implicit quid pro quos such as the lucrative future employment (revolving door), to softer forms of cognitive/cultural capture.
“… as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit.” George Stigler – The Theory of Economic Regulation (1971)

ESG, Corporate Governance & Future of the Firm

Are “Bankruptcy Directors” Bad for Creditors?

Jared Ellias
A new paper studies the rise of so-called “bankruptcy directors,” typically former bankruptcy lawyers, investment bankers, or distressed debt traders who join corporate boards...
News

Why Financial Regulations Might Fail to Produce Their Desired Outcome: The Case of the Capital Conservation Buffer

Hamid Mehran
The capital conservation buffer (CCB) was created after the 2008 financial crisis, instructing banks to retain their dividends in an escrow account and create a...
Antitrust and Competition

Big Tech, the FTC, and Ordoliberals: ProMarket’s Top Stories of 2021

ProMarket writers
As 2021 draws to a close, we look back at ProMarket’s most-read and most-widely shared stories of the past year. In a year marked by a...
Antitrust and Competition

The Best Political Economy Books of 2021

Asher Schechter
A scholarly examination of market’s power toll on American workers, the collected works of a pioneering economic thinker, an ambitious narrative of US economic...
News

How Interest Groups Utilize Reverse Revolving Doors to Influence Legislative Voting

Miguel Alquézar Yus
A new study finds that legislators who worked for interest groups before taking office influence the voting behavior of their colleagues when the motion...
Antitrust and Competition

Unreliable Accounts: How Regulators Fabricate Conceptual Narratives to Diffuse Criticism

Karthik Ramanna
In 2010, as the world was reeling from the global financial crisis, the body that determines generally accepted accounting principles for listed corporations in...
News

The Future of Money: The Case for Central Bank Digital Currencies

Eswar S. Prasad
"Money as we know it stands at the threshold of yet another major transformation in its long and storied history," writes Eswar Prasad in...
Antitrust and Competition

A New Browser Extension Aims to Bring Transparency to Big Tech Funding

Jana Kasperkevic
As Congress prepares to debate a series of new antitrust bills​, the​ Big Tech Funding browser extension encourages lawmakers to be mindful of Big...
ESG, Corporate Governance & Future of the Firm

“Comments for Sale”: Charitable Donations Can Lead Non-profits to Support Corporate Regulatory Agendas

Marianne Bertrand
A new paper shows how financial ties between companies and non-profits can subvert rulemaking process and lead to regulations that favor the interests of...
Antitrust and Competition

Beefing Up Merger Enforcement by Banning Merger Remedies

Hal Singer
The unraveling of the T-Mobile/Sprint remedy continues a trend of failed merger consent decrees. One solution, proposed by two antitrust scholars, is to ban...
1234...31Page 3 of 31

Latest news

View All

The publication of the Stigler Center at The University of Chicago Booth School of Business

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.