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The Equitable Economy

Economic History

What Stakeholder Capitalism Can Learn From Jensen and Meckling

Alex Edmans
Jensen and Meckling’s 1976 article is an academic classic, but heavily criticized by stakeholder capitalists for arguing that corporate structures should be designed to...
Income Inequality

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

James J. Heckman
Denmark has many generous social policies that American progressives seek to emulate. Yet Denmark also has substantial inequality of child outcomes across social and...
Antitrust and Competition

“I Wanted to Call People’s Attention to the Extent of Amazon’s Takeover of Washington”

Asher Schechter
In an interview with ProMarket, author and ProPublica reporter Alec MacGillis discusses the rise of Amazon and regional inequality, the role of politics in...
Economic History

The Most Famous Article on the Theory of the Firm is Widely Misunderstood

Brian Cheffins
Michael Jensen and William Meckling’s famous 1976 Journal of Financial Economics article has been cited nearly 100,000 times and is often regarded as a...
Covid-19

The Unequal Toll of Covid-19

Neha Deopa
A pandemic is by definition universal but while it is true that the Covid-19 outbreak has affected everyone, it has not done so equally....
ESG, Corporate Governance & Future of the Firm

Public’s Perception of Large Corporations Has Direct Impact on the Public Support of Corporate Bailouts

Emanuele Colonnelli
A new Stigler Center working paper finds that the likelihood of someone signing an online petition or contacting their US senators to support corporate...
ESG, Corporate Governance & Future of the Firm

Holding Corporations and Executives Accountable Depends on Our Legal System

Vikramaditya Khanna
How can the law prevent and deter corporate wrongdoing? The answer might lie in identifying what factors are associated with greater wrongdoing and how...
ESG, Corporate Governance & Future of the Firm

My American Board: On Ken Dayton and Good Governance

John Tusa
In the second chapter of his book On Board, John Tusa describes his experience on the board of American Public Radio, which he joined...
ESG, Corporate Governance & Future of the Firm

Do Employees Benefit From Worker Representation on Corporate Boards?

Magne Mogstad
Mandated legislation of worker representation is unlikely to be the magic bullet some policy-makers have pictured. A new paper finds workers may benefit from...
ESG, Corporate Governance & Future of the Firm

Do Companies Invest In Corporate Social Responsibility At the Expense of Their Employees?

Guglielmo Briscese
The past decade has seen companies increasing investments in initiatives of corporate social responsibility (CSR), such as donating a share of profits to charity....
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