In this installment of ProMarket’s new interview series, we ask Harvard Business School professor Herman “Dutch” Leonard about the involvement of corporations in politics and his thoughts on the Trump presidency. “Globalization, rent-seeking, and regulatory capture are not unrelated to one another.”
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In this installment of ProMarket’s new interview series on the economic theory of the firm, we ask University of Connecticut law professor and blogger James Kwak if the existing theory should be modified. “Corporations tend to favor policies that allow greater concentration and reduce constraints on their behavior.”
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In this installment of ProMarket’s new interview series, Nobel laureate Bengt Holmstrom says “this may be the right time to look at political engagement by corporations” and discusses the recent wave of populist discontent. “It is clearly a time of change and we will be forced to rethink how we can reaffirm our commitment to democracy.”
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The third and final part of ProMarket’s interview with Bernard Yeung, Dean of the National University of Singapore’s business school and one of the predominantly non-U.S.-born economists who laid the foundations for the scientific research of economic power concentration.
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The second installment in ProMarket’s new interview series: Should the economic theory of the firm be modified? If so, how? In this installment, we ask MIT’s John Van Reenen. “Since markets in the U.S. and other advanced countries have become increasingly concentrated in the hands of a smaller number of “superstar” firms, the ability of such firms to influence market rules has also strengthened.”
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Should the economic theory of the firm be modified? If so, how? In March, the Stigler Center at the University of Chicago Booth School of Business, Harvard Business School, and Oxford University will organize a conference to answer these questions and more. Ahead of the conference, we are launching an interview series with influential scholars in the field. In the first installment, Daniel Carpenter of Harvard University answers our questions: “the profitability and survival prospects of many firms in the coming years will depend heavily, in a polarized environment, on the political skills of managers.”
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A new paper by Elisabeth Kempf from the University of Chicago looks into the performance of credit analysts who left to work for investment banks and finds that they were more accurate than their peers.
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“Blockchain technology is threatening to remake the financial system from the top down in a way that threatens the existence of all the banks, stock changes, and all of the legacy financial institutions. I expect that within the next 10 years, probably half of the banks will be gone.”
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A recent working paper suggests that firms react to political risk, both passively by cutting investment and employment, and actively by ramping up lobbying efforts.
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Martin Schmalz, assistant professor of business administration and finance at the University of Michigan, speaks about the anti-competitive effects of common ownership, a situation in which competing firms operating in the same industry share identical major shareholders.
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Oliver Hart, the recipient of this year’s Nobel Prize in economics, sits down for a special interview with ProMarket in which he discusses his life’s work and the state of the U.S. economy.
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According to a new study, the world’s largest soda companies have sponsored 96 national health organizations during the last five years.
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