Crony Capitalism

How Biology Explains Back-Scratching Between Wall Street and Government

The revolving door of government and business explained in the lab. The systemic financial risk-taking in the lead-up to the financial crisis was a product...

How Markets in Europe Opened Up as Guild Monopolies Declined in the Sixteenth Century

Markets don’t function well if they are ridden with frictions like lack of information or lack of trust. A new working paper finds that...

How Market Power Leads to Corporate Political Influence

Neoclassical economic theory assumes that firms have no power to influence the rules of the game. A new paper by Luigi Zingales argues: This is...

Spoiled Meat Scandal Reveals the Influence of Business and Media on Brazil's Politics

The recently-released secret taping of a conversation between Brazil’s president Michel Temer and one of the country's most prominent businessmen reveals the extent to which big business...

The Value of Access: How Closeness to the Obama White House Benefited Companies

Between January 2009 and December 2015, White House officials met with corporate CEOs 2,286 times. A new study, to be presented at the upcoming Stigler Center...

Uber, the Mayor’s Private Email, and the Underground Lobbying Complex

The recent revelations regarding the interactions between Chicago mayor Rahm Emanuel and former Uber executive and Obama adviser David Plouffe suggest that the real action in...

“We Are Arrogant – We hold On to Our Old Beliefs on the Gains of Trade”: ProMarket Interviews Bernard Yeung, Part 3

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...

“In a System with Dominance, There is Built-In Resistance to Change”: ProMarket Interviews Bernard Yeung, Part 2

In the second part of his interview with ProMarket, Bernard Yeung—one of the economists who laid the foundations of scientific research on economic power...

Donald Trump’s Economic Policies: Pro-Business, Not Pro-Market

Trump is eliminating lobbyists by putting them in charge of all departments. After his election,1 it was...

Nobel Laureates: Eliminating Rent Seeking and Tougher Antitrust Enforcement Are Critical to Reducing Inequality

Angus Deaton: "A lot of the inequality in the U.S. comes from rent seeking. It comes from firms and industry seeking special protection or...

LATEST NEWS

The Monopoly Harms That Antitrust Keeps Missing

In his new book Monopolized, journalist David Dayen tells the stories of individuals who have suffered at the hands of monopolists, showing...

Special Interests Hide Behind Regulatory Myths

Three myths about federal regulation help prevent much of the public, and many experts, from realizing how many regulations serve to promote...

The Persuasive Effect of Fox News: How Increases in Fox News Viewership Reduced Compliance With Social Distancing Guidelines

Using zip-code level data on Fox News viewership and individual cellphone movement data, a recent study finds that increasing the local viewership...

Bethany McLean’s Weekend Reading List: Eastman Kodak, Private Equity Hospitals, and America’s First Female Recession

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

Tech Monopolies Are the Reason the US Now Has a TikTok Problem

Tech platforms like Facebook say we should protect, empower, and celebrate their concentrated power for the sake of America’s national security. But...
  1. This post was originally published in Il Sole 24 Ore.[]