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

COMMENTARIES

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...

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...

Study: Medicaid Expansion in Michigan Led to Less Financial Distress

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

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. 

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...

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

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

what we're reading

LATEST

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...

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

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

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

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

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

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

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

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

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

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

“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...

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...

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...

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...

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...

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

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