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The Equitable Economy

Antitrust and Competition

The Cost of America’s Oligopoly Problem

Asher Schechter
An innovative new study finds substantial, increasing deadweight losses resulting from oligopolistic behavior and points to the important role that startup acquisitions—particularly by large...
ESG, Corporate Governance & Future of the Firm

Walmart and Gun Control: Should Companies Self-Regulate When the Government Doesn’t Act? A New Capitalisn’t Episode

ProMarket writers
The biggest retailer in the US decided to end all handgun ammunition sales, and the four largest automakers announced a private deal with California...
ESG, Corporate Governance & Future of the Firm

The Business Roundtable CEOs’ Statement: Same Old, Same Old

Luca Enriques
Despite the media hype about corporate CEOs having abandoned their shareholder value maximization credo, the recent statement from the Business Roundtable contains nothing new...
Income Inequality

Thomas Piketty's New Book Brings Political Economy Back to Its Sources

Branko Milanovic
In the same way that Capital in the Twenty-First Century transformed the way economists look at inequality, Piketty's new book Capital and Ideology will...
Income Inequality

The Employment Effects of a Gender-Specific Minimum Wage

Riccardo Marchingiglio
The first minimum-wage laws in the history of the United States were predominantly gender-specific in that they were imposing a lower bound only on...
Income Inequality

The Future of Capitalism and the Utopia That Never Was

Branko Milanovic
In his review of Paul Collier’s recent book The Future of Capitalism, Branko Milanovic discusses ideology, social democracy, and the "ethical world."     Paul Collier’s...
Antitrust and Competition

Global Declining Competition

Carolina Villegas-Sanchez
Studies of the evolution of market power since 2000 have focused mostly on publicly traded US firms. This column introduces a new global study...
Antitrust and Competition

Towards the Giant Three: The Rise and Rise of the Big Three Index Funds

Lucian Bebchuk
The Big Three index fund managers—BlackRock, Vanguard, and State Street Global Advisors—hold a significant proportion of the stock of US public companies, and they...
Income Inequality

How Offshoring by Multinational Corporations Contributed to the Decline of US Manufacturing

Christoph Boehm
The offshoring activities of multinational firms explain about one-third of the aggregate decline in US manufacturing employment, according to a new study.  Between 1990 and...
Income Inequality

Angus Deaton: Today’s Inequalities Are Signs That Democratic Capitalism Is Under Threat

Angus Deaton
At the launch of the IFS Deaton Review, a 5-year review of rising inequalities in the UK, Sir Angus Deaton decried extreme inequality and the...
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The publication of the Stigler Center at The University of Chicago Booth School of Business

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.