Economics

Economics’ Lack of Interest in Gender Proves: the “Dismal Science” Really Is Dismal


Economists are still in the dark about the role of gender. For economics to be credible, we have to recognize that our knowledge is...

Standard Oil and Antitrust: the Effects of Aaron Director's Socratic Method

Aaron Director, who died 15 years ago, made important contributions to the analysis of business practices. None were ever published under his name. Professor...

Call for Papers: Academic Lobbying

Ahead of our fourth annual Theory of the Firm conference, we are soliciting papers dedicated to the topic of academic lobbying.     Three years ago,...

The Limits of Private Action: What the Past 40 Years Taught Us About the Perils of Unregulated Markets

The two big ideas that animated American public policy since the end of World War II, employer-sponsored social benefits and neoliberalism, are failures. We...

The Elephant in the Market Power Debate

Profits are the ultimate sign of market power. But for the past 40 years, economists and antitrust practitioners have disparaged the measurement of profit...

Why the FTC Should Focus on Labor Monopsony

Economic theory tells us that firms are more likely to exploit labor market power than product market power in the United States today. And...

Marx and Modern Microeconomics

Few economists doubt that Marx flunked economics, a judgement mostly based on his labor theory of value. But this column argues that Marx’s representation...

Top5itis: The Disease that Affects Economics

Top5itis is a disease that currently affects the economics discipline. It refers to the obsession of the profession of academic economists with the so-called...

LATEST NEWS

What Comes Next for Economic Policies to Combat Covid-19? A Conversation Between Six Booth Faculty

As the Covid-19 crisis evolves from a temporary shock into what seems like a long-term catastrophe, six finance scholars from Chicago Booth—Douglas...

A New Stigler Center Case Study Explores the Link Between Italy’s Morandi Bridge Disaster and Crony Capitalism

Two years ago, the Morandi bridge collapse claimed 43 lives. Based on financial statements, Italian government documents, and interviews with independent experts...

Few Bad Apples? New Study Finds That 40 Percent of Officers in a Large Police Force Are Discriminatory

A new paper seeks to examine whether police misbehavior is concentrated or diffuse by identifying whether highway patrol officers in Florida are...

Bethany McLean’s Weekend Reading List: Wirecard, Shale Oil, and the Fall of Chuck E. Cheese

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

Should Small Businesses Consider Bankruptcy? A New Capitalisn’t Reading List

The coronavirus has taken a heavy toll on most businesses, but it has been especially hard on small businesses. Should those businesses...