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The Equitable Economy

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...
ESG, Corporate Governance & Future of the Firm

Wirecard Scandal: When All Lines of Defense Against Corporate Fraud Fail

Jan Pieter Krahnen
Scandals such as Wirecard can destroy investor trust in capital markets working fairly and with integrity. A new policy brief commissioned by the European...
ESG, Corporate Governance & Future of the Firm

We Need More Research on Corporate Corruption

Armando Castro
The last decade has seen a continuous drumbeat of revelations of corporate corruption and the current economic crisis is sure to reveal many more....
ESG, Corporate Governance & Future of the Firm

The Social Voice of CEOs

Swarnodeep Homroy
A new working paper examines the phenomenon of CEO activism and finds that while statements by activist CEOs are more likely to have a...
Antitrust and Competition

Antitrust as Economic Stimulus

Hal Singer
By attacking power imbalances, competition policy can steer income to workers and independent merchants who are more inclined to spend than monopoly platforms.  When the...
Income Inequality

To Make a Difference, Businesses Must Have a Stake in Social Missions

Ofer Eldar
Despite their promises to change the world for the better and remedy social ills, the truth is that corporations are rarely designed to solve...
Income Inequality

A $2.5 Trillion Question: What If Incomes Grew Like GDP Did?

Kathryn Edwards
Per capita GDP in the US grew 118 percent over the past 43 years. At the bottom 25th percentile, real income for full-time, full-year,...
ESG, Corporate Governance & Future of the Firm

Does a CEO Have a Duty to Lobby?

Luigi Zingales
We need not only more disclosure, but also more work in alerting people in general (and students in particular) about the distortive effects of...
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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.