How to Change Section 230 and Make Digital Platforms More Accountable

If elected, former Vice President and current Democratic presidential candidate Joe Biden promised to “revoke immediately” the 1996 provision that gave tech companies like Facebook protection from civil liability for harmful or misleading content published on their platforms. The Stigler Center Committee on Digital Platforms has a proposal to fix the problem.   

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Over 60 Leading Finance Economists Ask SEC to Revise the Shareholder Voting Draft Reform

The new regulation that Security and Exchange Commissioners voted in November doesn’t fix proxy advisory industry duopoly problems, but it actually makes them worse: A group of scholars from major American universities filed a comment to ask the SEC to amend the proposed reform of public companies corporate governance.    

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New Rules on Shareholder Voting Debate: Best Readers’ Comment

The draft SEC regulation on shareholder proposal and proxy advisory firms will curb the initiative of individual shareholders to improve corporate governance and transparency of public firms, a ProMarket reader writes in the comment he sent to the SEC. “Progress on best practices often depends on the initiative of a few.” 

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The Epstein Report: How a Convicted Criminal Could Use MIT to Whitewash His Reputation

The only reason why a pedophile’s donations did not violate any MIT policy is that MIT does not have any policy to prevent embarrassing donors damaging the institution’s reputation. An independent investigation proved that many MIT executives were aware of Epstein’s gifts but they pretend they never checked Google or Wikipedia to get some information on his past. Two senior professors who helped Epstein to connect with MIT received money on their personal accounts or ventures. 

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Should We Let Facebook Decide the Next President of the United States?

Facebook admitted that only a binding regulation on political ads could prevent private corporations from influencing the outcome of US presidential elections. Without such regulation, digital platforms can favor a candidate by altering (or maintaining) their policies on digital advertising. Trump’s campaign was much more effective than Clinton’s in using micro-targeting to shape voters’ preferences in 2016, a new study shows. Facebook decided to confirm the same policies for the 2020 election.  

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The Rise of the Opioids: How Purdue Invented New Markets for OxyContin

Purdue’s strategy was to market its opioids directly to patients via brochures, videos, advertisements, and the internet. It also provided information to doctors and consumers through an apparently independent entity called “Partners Against Pain,” but ultimately controlled by the company itself. 

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Who Benefits When State Governments Award Incentives to Politically-Connected Companies?

A new study finds that a company is nearly four times more likely to receive an economic incentive in a state where the company makes political contributions to state-level candidates. The results also show that awarding economic incentives to politically-connected firms is not the most effective use of taxpayer funds. 

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Purdue Circumvented the Regulator to Promote OxyContin, Hiding Its Real Risk of Addiction

In 2001, the Food and Drug Administration required Purdue to change OxyContin’s patient package inserts to make addiction risks more evident. The company altered the label to make it appear as though illegal use and abuse were the only addiction-related problems associated with OxyContin. Eventually, Purdue hired the FDA’s medical reviewer for OxyContin. 

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