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The Equitable Economy

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...
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...
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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.