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The Equitable Economy

ESG, Corporate Governance & Future of the Firm

Millennials and Gen Z Are Willing to Accept Lower Wages to Work in More Sustainable Firms

Daniel Metzger
Firms in more environmentally friendly sectors are better able to attract and retain talent and at lower wages. Millennials and Gen Z, who are...
Antitrust and Competition

How the FTC Protected the Market Power of Pharmacy Benefit Managers

Stacy Mitchell
Pharmacy Benefit Managers (PBMs) were established in the 1960s to control drug costs but have since morphed into one of the most highly concentrated...
ESG, Corporate Governance & Future of the Firm

How Corporate Purpose Affects Firms

Claudine Gartenberg
A company’s purpose is a core aspect of the organization: it influences the financial performance of company, and relates to its ownership characteristics, compensation...
Antitrust and Competition

What Is the Price of a Prescription Drug?

Robin Feldman
Due to lack of transparency and mystery rebates, which are considered trade secrets, figuring out the price of a prescription drug is devilishly difficult....
Income Inequality

The End of the Capitalist-Worker Dichotomy and the Rise of a New Elite?

Yonatan Berman
Economists typically assume that capitalists and workers are different people. A new study, however, finds that the intersection between the top decile of capital-income...
Covid-19

Covid-19 Aggravates Existing Income, Gender, and Race Inequalities, and Further Increases Political Divisions

Marianne Bertrand
Seventy percent of Americans know someone who tested positive; one in five know someone who died from coronavirus, survey shows. For most of 2020, we followed...
Antitrust and Competition

Is There Really a Conflict Between Better Corporate Governance and More Competitive Product Markets?

Miguel Antón
A new study shows that the supposed tradeoff between better corporate governance and more competitive product markets may not exist. More commonly-owned firms have...
Covid-19

Angus Deaton: “There’s Something Clearly Wrong With Our Corporate System, in Which Pharmaceutical Companies Are Allowed to Kill People for Money”

Asher Schechter
In an interview with ProMarket, Nobel Prize-winning economist Angus Deaton outlined what he believes the incoming Biden administration should do: introduce price controls and...
ESG, Corporate Governance & Future of the Firm

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

David F. Larcker
Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff. A recent...
ESG, Corporate Governance & Future of the Firm

Corporate Responsibility and The Two Minds of Milton Friedman

Ernesto Dal Bó
Milton Friedman had two inconsistent minds: That of an economist and an ideologue. The view that maximizing profits without constraint is a manager’s only...
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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.