A Change to Policy on All-Cash Housing Purchases Reveals How Anonymous Capital Can Distort Markets

Until 2016, anonymous buyers could purchase US real estate in cash through shell companies without reporting their real identities. But that year a new Treasury Department regulation closed this loophole in key US housing markets—and sparked an enormous drop in these types of transactions. The result points to how important anonymous capital flows are for global money launderers.  

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Any Press is Good Press? Study Finds Federal Investigations of University Responses to Sexual Misconduct Cases May Help Enrollments

Despite concerns among administrators that news coverage of campus sexual assault will harm universities’ reputations and bottom lines, a study finds an increase in applications and enrollment for both female and male students following federal Title IX investigations highlighting the issue on campuses.

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When Social Policy Saves Lives: Analyzing Trends in Mortality Inequality in the United States and France

Understanding how inequalities in health and inequalities in income are connected is key for policymaking. New research analyzing mortality trends in the United States and France finds that inequalities in income and health do not necessarily move in tandem and that public policy can help to break the link.

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The Foundation of Corporate Personhood: A Look at the Charles River Bridge Case of 1837

Some 130 years before Friedman could begin arguing that a corporation’s sole responsibility was to make a profit for its shareholders, Boston’s Charles River Bridge Company had to convince the Supreme Court that corporations were private entities whose interests could diverge from the public interest. While it lost that case, the partial success of the Charles River Bridge Company’s reasoning with the court laid the foundations for corporate personhood as it exists today.  

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A Founder of the Blockchain Discusses New Research on Inherent Limitations to Bitcoin

In the latest Stigler Center working paper, Chicago Booth’s Eric Budish argues that game-theoretic constraints imply there are “intrinsic economic limits to how economically important [Bitcoin] can become.” In this review essay, W. Scott Stornetta—a co-inventor of the early blockchain—highlights the paper’s contributions while raising some exceptions with its broader generalizations.  

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