Government proponents of prison labor should be mindful of the potential for negative effects, including increased incarceration rates and citizens’ deteriorating views on state legitimacy. Using prisons as a source of labor to serve economic interests can create perverse incentives for incarceration and significantly reduce long-term trust in legal institutions like police. With around 11 million people incarcerated globally and the number rising daily, many governments around the world have...

RESEARCH

COMMENTARIES

Bethany McLean’s Weekend Reading List: Robinhood, Quibi, and Corporate America’s Addiction to Debt

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles...

EVENTS

PODCAST

A New Capitalisn’t Episode

Subscribe to promarket newsletter

Join our email newsletter

READING LIST

Why Social Distancing Measures Seem Less Effective in the US

Guidelines assume that the less people move around, the less likely they are to be in contact. However, phone location data show...

The Childcare Barriers to Putting America Back to Work

Substantial fractions of the US labor force have children at home and will likely face obstacles in returning to work if childcare...

The Paycheck Protection Program, Meant to Prevent Mass Layoffs, Missed Its Target

A new study shows that CARES Act funds to support small companies and prevent mass layoffs did not flow to areas more...

How Are Americans Coping With the Covid-19 Crisis? 7 Key Findings From a Household Survey

New research from the Rustandy Center and the Poverty Lab at the University of Chicago finds that lower-income Americans, especially women,...

READING LIST

In the aftermath of the brutal murder of George Floyd at the hands of white police officers in Minneapolis and the ensuing global outrage, an unprecedented focus on the causes of police violence and misconduct has emerged. Should the police be “defunded,” as many protesters demand, or should US law enforcement reformed in other ways? ProMarket investigates.

What is the Connection Between Collective Bargaining and Police Officer Misconduct? Evidence from Florida

A working paper finds that after sheriffs’ deputies in Florida were allowed to unionize, violent incidents increased by 40 percent.

Should We Defund the Police? A New Capitalisn’t Reading List

In this episode of the Capitalisn't podcast, Kate and Luigi take an economist's look at the concept of defunding the police.

How to Get Police Reform Done? Use Direct Democracy

Instead of just imploring their representatives to fix things, Americans can use the tools of direct democracy to take charge and promote...

Break Up the Police

In most cities in America, it is not the police that answers to the mayors, but the mayors to the police. The...

The Economic and Social Implications of Racial Disparities: A Webinar With Lisa Cook

Michigan State University professor Lisa Cook joined Princeton’s Bendheim Center for Finance to discuss how violence impacts innovation, as well as the economic and societal fissures exposed by Covid-19.  On Monday (June 8), Michigan State University economist Lisa Cook joined the Princeton Bendheim Center for Finance to discuss the economic and social implications of racial disparities in the US, with a specific focus on research that examines how violence impacts...

Covid-19 and Amazon’s Future: a Webinar With Stacy Mitchell, Steven Kaplan, and Jacob Schlesinger

As part of the Stigler Center’s Political Economy of Covid-19 Series of online programming, which explores the economic and political implications of Covid-19 with leading academics and experts, we recently hosted a conversation between Stacy Mitchell, co-director...

Capital and Ideology: a Webinar With Thomas Piketty, Robert Topel, and Edward Luce

As part of the Stigler Center’s Political Economy of Covid-19 Series of online programming, which explores the economic and political implications of Covid-19 with leading academics and experts, we hosted a discussion between Piketty and Chicago Booth...

Are Americans Drifting Apart Culturally?

Is the United States becoming more culturally divided across racial, gender, income, religious, geographic and political lines? New research from SMU and UCLA finds...

COLUMNS

Bethany McLean’s Fourth of July Weekend Reading List: Jeff Bezos, Homeschooling, and How to Make Capitalism Work for All

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

Bethany McLean’s Weekend Reading List: Wirecard, Shale Oil, and the Fall of Chuck E. Cheese

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

Bethany McLean’s Weekend Reading List: Mortgages, Rents, and Hamilton

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

Bethany McLean’s Weekend Reading List: Mask Traders, Scientists, and the Looming Bank Collapse

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

what we're reading

LATEST

The United States: An Exceptional Case? A Webinar With Stephen Haber, Richard R. John, and Luigi Zingales

Many see the US as a land where free markets and antitrust enforcement have historically kept monopolies under control. But is that...

What Comes Next for Economic Policies to Combat Covid-19? A Conversation Between Six Booth Faculty

As the Covid-19 crisis evolves from a temporary shock into what seems like a long-term catastrophe, six finance scholars from Chicago Booth—Douglas...

A New Stigler Center Case Study Explores the Link Between Italy’s Morandi Bridge Disaster and Crony Capitalism

Two years ago, the Morandi bridge collapse claimed 43 lives. Based on financial statements, Italian government documents, and interviews with independent experts...

Few Bad Apples? New Study Finds That 40 Percent of Officers in a Large Police Force Are Discriminatory

A new paper seeks to examine whether police misbehavior is concentrated or diffuse by identifying whether highway patrol officers in Florida are...

Should Small Businesses Consider Bankruptcy? A New Capitalisn’t Reading List

The coronavirus has taken a heavy toll on most businesses, but it has been especially hard on small businesses. Should those businesses...

The Pandemic Has Revealed America’s Impatience. But America Will Need Patience in the 2020 Election

The proliferation of mail-in voting is likely to make knowing who won the election take much longer than Americans are used to....

Regulators Turn Their Attention Towards Apple’s Exploitation of App Developers. Now What?

Congress could level the playing field for independent app developers by looking to regulatory templates in music.

At the Heart of the European Commission’s Investigations of Apple Is a Basic Question: How Should Apple Make Money?

Just like Spotify, Apple has amassed an installed base of users. Spotify sells its users to advertisers while Apple sells its users...

ALSO READ

“Alberto Alesina Always Knew Where The Big Ideas Were”

Harvard economist Alberto Alesina passed away at 63. Paola Giuliano, UCLA professor and Alesina's co-author, recalls his intellectual and human legacy: "He...

How Political Conflict Shapes Macroeconomics: Alberto Alesina’s Intellectual Legacy

One of the most respected economists of his generation, Harvard professor Alberto Alesina suddenly died at 63. His friend and colleague Guido...

Why Economic Predictions Are Useless Right Now

The Covid-19 crisis is unprecedented in its global scope and open-ended, uncontrollable progress. By their very nature, the models that economists often...

“We’ve Never Had a Purely Capitalist Economy—We’ve Had State-Subsidies for Some and Exclusion for Others”

In an interview with ProMarket, UC Irvine law professor Mehrsa Baradaran discussed the connection between the current protest wave and the deep-seated...

Piketty on the Covid-19 Crisis: “It Is High Time to Use This Opportunity to Counter the Dominant Ideology and Significantly Reduce Inequality”

In an interview with ProMarket, Thomas Piketty speaks about his new book, the role of ideology as a driver of inequality, and...

Who Is to Blame for the 2008 Financial Crisis?

The IGM Center at the University of Chicago has asked its American and European economist panel to rate the main causes of the financial...

Amazon-Owned Movie Theaters: the Next Step in Entertainment Industry Consolidation

Amazon is in talks to buy AMC Theaters, whose business model was jeopardized by the coronavirus pandemic. Other streaming companies, such as...