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The Role of the State

Antitrust and Competition

George Stigler’s Paper on Regulation and the Rise of Political Economy

Andrei Shleifer
George Stigler’s “The Theory of Economic Regulation” is not just the founding paper of economics of regulation. It is also a founding paper of...
Antitrust and Competition

Identifying the Market In the Facebook Antitrust Case

Herbert Hovenkamp
Facebook can be a monopolist over a cluster of noncompeting products that do not fit the standard economic definition of a “market.” The key...
Antitrust and Competition

Of Antitrust and Patents: the Quiet Return of the Status Quo at the DOJ’s Antitrust Division

Allen Grunes
Without Senate-confirmed political leadership, the Department of Justice quietly reverts to an Obama-era policy that favors Big Tech. The consistent theme running through Makan Delrahim’s...
Antitrust and Competition

Why We Need To Re-think Friedman’s Ideas About Monopolies

David Chan Smith
Friedman’s New York Times Magazine article on the social purpose of business was a specific intervention in the debate over shareholder activism and mentions...
Antitrust and Competition

The Real Dish on the T-Mobile/Sprint Merger: A Disastrous Deal From the Start

Melody Wang
The Trump-era DOJ’s decision to allow the T-Mobile/Sprint merger will go down as one of the worst merger-enforcement mistakes in decades. This merger will...
Antitrust and Competition

Organized Mimicry: Employers Against the Free Market

Jake Rosenfeld
"Despite all the rhetorical support for free markets, it turns out that employers would rather corner their market, not free it, especially their market...
Antitrust and Competition

“I Wanted to Call People’s Attention to the Extent of Amazon’s Takeover of Washington”

Asher Schechter
In an interview with ProMarket, author and ProPublica reporter Alec MacGillis discusses the rise of Amazon and regional inequality, the role of politics in...
Antitrust and Competition

Why Big Tech Companies Should Engage With Academia, and Why They Don’t

Tommaso Valletti
“Academic engagement” of a Big Tech firm: that job should exist. But it has not happened, and it probably won’t happen, unless we get...
Antitrust and Competition

The Durable Impact of Stigler’s Theory of Economic Regulation

Sam Peltzman
George Stigler’s “The Theory of Economic Regulation” was an early application of public choice reasoning to a practical problem—the work of regulatory agencies. It...
Antitrust and Competition

Rethinking Competition: From Market Failures to Ecosystem Failures

Michael G Jacobides
Despite the overwhelming importance of digital platforms, and the chatter around their recent rise, our understanding of digital ecosystems is still limited. As such,...
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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.