Rent seeking

How Insufficient Enforcement Led to Prevalent Tax Evasion and Contributed to American Inequality

The prevalence of tax evasion among the top 1 percent of the income distribution is much worse than previously thought, a study...

How Sadie Alexander, the First Black Economics PhD, Became a Voice for Black Workers

A whole century has passed since Sadie Alexander became the first African American to receive a PhD in economics in the United...

How Protests Against the Jim Crow Credit Market Changed the Civil Rights Movement

Before the civil rights movement captured the nation’s attention, activists and community groups were protesting against exploitative credit and exclusionary lending practices...

The Digital Society: “We Live in a World Obsessed With Cost Cutting”

In an interview about his new book, The Inglorious Years, economist Daniel Cohen explores the emergence of the digital society and its...

The Profit Paradox: “What’s Good for Firms Is Not Necessarily Good for the Workers”

In an interview with ProMarket, Jan Eeckhout discusses his new book The Profit Paradox and explains how market power brings down wages,...

Let’s Not Forget George Stigler’s Lessons about Regulatory Capture

George Stigler’s theory of economic regulation opened our eyes to the rent-seeking that undermines the public interest. Yet many in positions to...

Three Ways Tax Policies Increase the Black-White Racial Wealth Gap

Dorothy Brown, the author of The Whiteness of Wealth, explains how tax breaks for marriage, college, and gifts and inheritance contribute to...

Most Americans Consider Themselves Middle-Class. But Are They?

There are different ways of determining who should be considered middle-class. But there is one thing they have in common: all reveal...

Barriers to Entry as Another Source of Top Income Inequality

A new book, The Power of Creative Destruction, explores how lobbying contributes to the increase in the top 1 percent’s share of...

What the US Can Learn From Denmark About Inequality and Social Mobility

Denmark has many generous social policies that American progressives seek to emulate. Yet Denmark also has substantial inequality of child outcomes across...

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How the Rise of Labor Market Power Helps Explain the Fall of US Manufacturing Employment

A new working paper explores the increase in labor market power in the US and what’s driving it. It shows manufacturing workers...

How Manufacturing’s Lobby Won and Lost its Political Influence

What happens when supporting capitalism hurts capitalists? Do business lobbies ever control the economy to the extent we think they do? The...

How Apple Locks Out the Competition with Its Digital Key

Apple’s efforts to dominate the contactless payments market and lock up the “digital key” space pose a profound threat to consumer privacy...

The Dawn of Antitrust and the Egalitarian Roots of the Sherman Act

While it isn’t particularly controversial that concentrated economic power was a legislative target of the Sherman Act, when read as a corollary...

The Varied Ideologies—and Practices—of Socialist Nations in the Developing World

In an excerpt from his new book Ripe for Revolution: Building Socialism in the Third World, Harvard Business School professor Jeremy Friedman...

How Much Can We Trust Index Funds on Climate Change?

According to a theory that is gaining support among academics and practitioners, we should expect index fund managers to undertake the role...

The Ties that Bind Workers to Firms: No-Poach Agreements, Noncompetes, and Other Ways Firms Create and Exercise Labor Market Power

Collusive no-poach agreements are per se illegal, but noncompete clauses are not. Recent research casts doubt on the rationale for this legal...