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The Equitable Economy

Health Care

The Secret Driver of US Health Care Costs: Politicians Wanting to Get Reelected

Asher Schechter
A pioneering new study provides a first-of-its-kind look into the outsized effect that lobbying and political maneuverings have on health care spending. Americans spend significantly more...
Income Inequality

Who Are the Top 1 Percent in America? The Answer from New Research Might Surprise You

Samantha Eyler-Driscoll
A new paper challenges Thomas Piketty’s portrayal of an income distribution dominated at the top by passive rentiers who do nothing to earn their money,...
Antitrust and Competition

UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

Asher Schechter
A new study by the United Nations Conference on Trade and Development argues: The “endemic rent-seeking that stems from market concentration, heightened corporate power,...
ESG, Corporate Governance & Future of the Firm

Richard Thaler and the Science of People

Itzhak Ben-David
Richard Thaler's thought process and perspective on human behavior have influenced how we view economic phenomena and how they affect and are effected by people.     Earlier...
ESG, Corporate Governance & Future of the Firm

Does Environmental Crime Pay?

Luigi Zingales
A new Stigler Center working paper conducts a cost-benefit analysis of DuPont's emissions of a toxic chemical dubbed C8. The Trump administration has shown clear signs that it...
ESG, Corporate Governance & Future of the Firm

To What Extent Do Political Considerations Affect Finance?

ProMarket writers
In June, the Stigler Center brought together top academics for a conference on the impact of politics on finance. Ahead of our second annual...
ESG, Corporate Governance & Future of the Firm

Turning Corporations into Democracies

John G. Matsusaka
The problem with encouraging firms to maximize shareholder welfare is how to prevent managers and special interests from diverting corporate resources in the name of shareholder...
ESG, Corporate Governance & Future of the Firm

Let Data Guide Legislation: Stifling Shareholders in the CHOICE Act?

Eugene Soltes
In improving the current shareholder proposal process, legislators should trade the butcher knife for the scalpel.   What influence, if any, should shareholders have over...
ESG, Corporate Governance & Future of the Firm

A Small Step for Theory, a Leap Forward in Corporate Governance

Oliver Hart
Moving from shareholder value maximization to shareholder welfare maximization may be a small step in theory, but it could trigger a leap forward in...
ESG, Corporate Governance & Future of the Firm

Where Friedman Was Wrong

Asher Schechter
A new paper by Oliver Hart and Luigi Zingales argues that a company’s objective should be the maximization of shareholders’ welfare, not value.  In 1970,...
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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.