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Coronavirus

Lifting Lockdown Measures Won’t Bring Back Lost Jobs, New Study Suggests

A new paper examines data on local outbreaks in South Korea and finds that even in the absence of lockdowns, an increase in confirmed infections of 1 per 1,000 people caused a 2-3 percent decline in local employment. This suggests that nearly half the job losses in the US may be due to private businesses and consumers voluntarily reducing their economic activity, rather than government-mandated lockdowns. When will the global...

RESEARCH

News

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

Stefano Feltri

News

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

Felipe Goncalves, Steven Mello

COMMENTARIES

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

Bethany McLean

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

PODCAST

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

Stefano Feltri

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

ProMarket writers

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

Ciara Torres-Spelliscy

A New Capitalisn’t Episode

READING LIST

The Covid-19 Economy

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Coronavirus

Why Social Distancing Measures Seem Less Effective in the US

Gabriele Borg, Samuele Giambra, Samsun Knight

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

Bailout

The Childcare Barriers to Putting America Back to Work

Jonathan Dingel, Christina Patterson, Joseph Vavra

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

Bailout

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

Joao Granja, Christos Makridi, Constantine Yannelis, Eric Zwick

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

Coronavirus

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

Marianne Bertrand, Guglielmo Briscese, Maddalena Grignani

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

READING LIST

Police Reform

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.

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News

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

Dhammika Dharmapala, Richard H. McAdams, John Rappaport

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

Capitalisn't

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

ProMarket writers

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

COMMENTARIES

How to Get Police Reform Done? Use Direct Democracy

John G. Matsusaka

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

Capitalisn't

Break Up the Police

Luigi Zingales

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

Teaching

Coronavirus

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

ProMarket writers

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...

Antitrust and Competition

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

ProMarket writers

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...

Coronavirus

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

ProMarket writers

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...

Study: Medicaid Expansion in Michigan Led to Less Financial Distress

Inequality

Bhash Mazumder

A new study finds that obtaining health insurance coverage leads to lower unpaid debt, fewer bankruptcies, fewer evictions, fewer late payments, and higher credit...

COLUMNS

COMMENTARIES

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

Bethany McLean

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

COMMENTARIES

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

Bethany McLean

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

COMMENTARIES

Why Economic Predictions Are Useless Right Now

Branko Milanovic

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

Bethany McLean’s Weekend Reading List: Elder Care Facilities, Twitter, and Pot

Bethany McLean

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

what we're reading

What we are reading

Can Facebook Weather the Ad Boycott?

ProMarket writers

[AP]

What we are reading

What Private Equity Reveals About the Myth of Free Markets

ProMarket writers

[The New York Times]

What we are reading

Facebook Can’t Be Reformed

ProMarket writers

[The New York Times]

What we are reading

Facebook Ad Boycott Hands New Ammo to Legion of Washington Foes

ProMarket writers

[Bloomberg]

What we are reading

German Corporations — and Regulation — Are in the Dock

ProMarket writers

[Financial Times]

What we are reading

American Companies Are Sick. Here’s How to Cure Them.

ProMarket writers

[The New York Times]

What we are reading

Universities and Tech Giants Back National Cloud Computing Project

ProMarket writers

[The New York Times]

What we are reading

Paycheck Protection Program Nears End With $130 Billion Left Unused, and Lawmakers Eye Next Steps

ProMarket writers

[The Washington Post]

What we are reading

Zuckerberg Once Wanted to Sanction Trump. Then Facebook Wrote Rules That Accommodated Him.

ProMarket writers

[The Washington Post]

What we are reading

Third of Top Brands Likely to Suspend Social Media Spending, Survey Finds

ProMarket writers

[Financial Times]

What we are reading

US Companies File for Bankruptcy at Fastest Pace Since 2013

ProMarket writers

[Financial Times]

What we are reading

Supreme Court Backs President’s Power to Fire CFPB Director

ProMarket writers

[Bloomberg]

LATEST

Antitrust and Competition

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

Hal Singer

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

Antitrust and Competition

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

Randy Picker

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

Antitrust and Competition

When Scholarship Turns Into Business: Stefano Feltri Responds to Paul Milgrom

Stefano Feltri

Stefano Feltri responds to Paul Milgrom’s criticisms of his recent ProMarket piece on the 2017 FCC spectrum auction.

Antitrust and Competition

Should We Leave Public Resource Allocation to the Experts? Glen Weyl Responds to Paul Milgrom

Glen Weyl

Glen Weyl, Microsoft’s Office of the Chief Technology Officer Political Economist and Social Technologist, responds to Paul Milgrom’s criticisms of his recent...

Antitrust and Competition

Was the 2017 FCC Spectrum Auction a Success—or a Disappointing Failure?

Asher Schechter

In a post published on his company’s website, Stanford professor Paul Milgrom responded to the recent ProMarket pieces by Glen Weyl and...

Coronavirus

Revenge of the Experts: Will Covid-19 Diminish Trust in Science and Scientists?

Cevat Giray Aksoy, Barry Eichengreen, Orkun Saka

It is often argued that the Covid-19 pandemic will reverse the ongoing trend of diminishing trust in science and scientists. A new...

Antitrust and Competition

AT&T’s Treatment of HBO Max Sparks Calls for Net Neutrality Rules. But Is Sector-Specific Regulation the Right Solution?

Hal Singer

Not all forms of self-preferencing should be banned, but we do need a standard by which to evaluate allegations of anticompetitive self-preferencing....

Inequality

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

Asher Schechter

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

ALSO READ

Alberto Alesina

“Alberto Alesina Always Knew Where The Big Ideas Were”

Paola Giuliano

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

Alberto Alesina

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

Guido Tabellini

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

COMMENTARIES

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

Asher Schechter

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

Antitrust and Competition

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

Matt Stoller

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

Regulatory Capture

Who Is to Blame for the 2008 Financial Crisis?

Luigi Zingales

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

Alberto Alesina

“There Are Few Things More Exciting Than Learning Something New and Important About Humanity”: Alesina’s Scientific Odyssey

Edward Glaeser

"It is a rare scholar who does research in his 60s that is as exciting as the research that he did in...

News

We Need More Respectful and Inclusive Experiments in Development Economics: A Proposal

Francesco Loiacono, Mariajose Silva Vargas, Apollo Tumusiime

After many years of field research in Uganda, three economists outline how to prevent a powerful research tool such as randomized...

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