Chicago School

Data-Driven Ideology: The Problem With Economists' Takeover of Policymaking

According to New York Times journalist Binyamin Appelbaum's recent book The Economists' Hour, economics is not the unbiased science that it pretends to be, but...

Corporations and the Rise of the Chicago Law and Economics Movement

From its birth in 1946 onward, corporations made possible and crucially supported the rise of the Chicago law and economics movement. Aaron Director,...

"The Lack of Competition Has Deprived American Workers of $1.25 Trillion of Income"

French economist Thomas Philippon, author of the recent The Great Reversal, explains how Europe got to be better at free markets than the US and how...

Chile's Fall From Grace Shows the Failures of Neoliberalism

For many years, Chile’s economic growth and transition to democracy have made it the poster boy for neoliberalism. The current wave of protests highlights...

Vertical Media Mergers Are a Serious Threat to Freedom of Speech

Antitrust regulators should stop mergers where a firm owning the means of transmission acquires a provider of content. The people that own the pipes...

Aaron Director and the Empirical Foundation for the Chicago Attitude on Antitrust

Empirical evidence, not just disembodied theory, was an important building block of Director’s view that competition could defeat concentration, writes Daniel Kuehn. Editor's note: Aaron...

A Fair Amount of Freedom for Everyone: Aaron Director Did Have Ideals

David Henderson of the Hoover Institution defends the legacy of Aaron Director, the most enigmatic among the founders of the so-called "Chicago School." Director, argues...

How Powerful Ideas Can Shape Society: Aaron Director and the Triumph of Nihilism

The rise of giants like Amazon and Facebook proves the long-lasting influence of Director's approach. His intellectual and political legacy is the transition of...

If One Monopoly Is Good for the Firm, Are Two Always Better? Aaron Director and the Tie-in Problem

When IBM patented a punch card processing machine, it had the power to influence both the market of machines and punch cards, but this is...

Aaron Director’s Legacy: The Beginning of Doubt is the Beginning of Wisdom

Aaron Director died 15 years ago. He published almost nothing, but his ideas influenced a generation of economists and intellectuals. Professor Stephen Stigler remembers...

LATEST NEWS

Reversing the “Resource Curse” with Foreign Corruption Regulation

Anti-corruption regulation originating in developed countries is effective in changing corporate behavior and has a positive economic impact on developing countries.

The Death of Hong Kong’s Rule of Law

Hong Kong's rule of law has suffered a fatal blow. With the national security law, the authoritarian regime has all that it...

President-Elect Joe Biden and the Real Lessons of DuPont

Simply talking corporate America into being more responsible is not enough. It may get corporations to talk the talk, but not to...

How Companies Spin Off Environmental Liabilities to Avoid Legal Obligations

Environmental externalities are vexing for corporate decision makers, but some companies have figured out a way to deal with them: a spinoff....

How Pfizer’s Vaccine Announcement Demonstrates the Political Power of Firms

By timing the disclosure of the results of its vaccine trial, Pfizer could have influenced the 2020 presidential election. This is worrisome...