Banking

Does Wall Street Do “God’s Work”? Or Even Anything Useful?

Bank executives frequently proclaim that Wall Street is vital to the nation’s economy and performs socially valuable services by raising capital, providing liquidity to...

Rents and the High Cost of High Finance: Q&A with Gerald Epstein

New study estimates that the total costs of America’s flawed financial system–rents, misallocation costs, and the costs of the 2008 crisis–will add up to...

ProMarket Interview: Alan Blinder on Over-Regulating Financial Markets

In order to get optimal regulation in the financial world, says Alan Blinder, the former Vice Chair of the Federal Reserve, one should seek...

The Attacks on RBI Governor Raghuram Rajan: Lessons from Stanley Fischer as a Central Banker

India and Israel show that fighting crony capitalism in countries where a small group of people has huge political and financial influence is sometimes...

How to End Too-Big-To-Fail? At Minneapolis Fed Symposium, Participants Reject Big Bank Breakup

Former Fed chairman Ben Bernanke: "Size is not the only relevant attribute of banks.” Should big banks be broken up in order to ensure the...

LATEST NEWS

George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...