The Equitable Economy

Marios Constantine Iacovides discusses his and Konstantinos Stylianou’s empirical investigations into how the goals of competition policy have evolved over time. They find that a multitude of goals have always been present in judicial and regulatory decisions, but the emphasis on certain goals has vacillated in response to the concerns of the time. Contemporary concerns about the health of democracy suggest a revival of ordoliberalism and protection of the competitive process.

After public backlash, OpenAI has abandoned plans to restructure to remove control by its nonprofit entity. ProMarket reviews the history of OpenAI’s internal tensions to pursue profits over its founding purpose, artificial intelligence for the benefit of humanity, and what questions remain after the firm’s retreat.

The following is an excerpt from Michael Posner’s recent book, Conscience Incorporated: Pursue Profits While Protecting Human Rights, reprinted here with permission from NYU Press.

In new research, Xuelin Li, Sijie Wang, Jiajie Xu, and Xiang Zheng find that the involvement of specialized venture capital firms influences a biotech startup’s drug portfolio by focusing research and development on fewer products.

Rose Chan Loui explains the current controversy surrounding OpenAI’s decision to abandon its nonprofit status. To learn more about OpenAI’s proposed restructuring, what it means for the race to develop artificial general intelligence, and how it highlights the tricky legal concept of a nonprofit’s “purpose,” listen to Chan Loui’s recent appearance on Capitalisn’t.

Lawrence A. Cunningham reviews the arguments over Delaware’s recently signed Senate Bill 21, which changes corporate governance law in the state in favor of corporate management, and discusses what developments may come next.

Barak Richman writes that the recently announced investigation of the House Judiciary subcommittee for antitrust into the residency match antitrust exemption presents an opportunity...

A future of business may be businesses owned by charities; they have a history of commercial success and social good. The following is an...

The Federal Trade Commission under Chair Andrew Ferguson has surprised many by continuing its predecessor’s emphasis on protecting labor markets. Randy Kim writes that while this is a welcome development, it will do little to help workers if President Donald Trump does not also continue his predecessor’s whole-of-government approach. Early indications suggest he will not.

Over the past four decades, the United States has seen rising market power, slowing productivity growth, and deepening wealth inequality. In new research, Giammario...