How the “Watergate Babies” Released the Beast of Monopoly Upon America

Why did Washington respond to the 2008 financial crisis by pushing even more wealth and power into the hands of the same people that caused it? The answer is partly rooted in the legacy of the angry young Democrats who entered Congress in the wake of the Watergate scandal and unwittingly loosened the chains of concentrated corporate power.  

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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 legitimacy from democratic institutions as the locus of governing power to private monopolies.  

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The Effects of Concentration in the Asset Management Industry on Stock Prices

The asset management industry has become increasingly concentrated in recent decades. Regulators are concerned about the systemic risks this may pose. Using data from the US, this column suggests that the increased concentration has led to more volatile prices of stocks held by large institutional investors. This poses challenges for regulators trying to weigh price efficiency and economies of scale.  

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How to Protect Competition and Consumers in Digital Markets

While some markets may self-correct, rapid self-correction in markets dominated by large digital platforms is unlikely. The economy and market structure subcommittee of the Stigler Center’s Digital Platforms Project proposes ways to reform antitrust law and regulation in order to adequately deliver competition to consumers.   

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How to Mitigate the Political Impacts of Social Media and Digital Platform Concentration

Ahead of its annual conference on Digital Platforms, Markets and Democracy, the Stigler Center formed a committee to produce independent white papers that will inform policymakers on how to address the political and economic issues raised by tech platforms. In preparation for the conference, we are publishing the executive summary of each preliminary report.  

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