Economics

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...

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Tech Platforms and the Antitrust Duty to Deal

Why is there a widespread view that existing American antitrust law is ill-equipped to address dominant platforms that exclude or discriminate against...

Study: the Covid-19 Eviction Moratoriums Helped Reduce Food Insecurity and Mental Stress

A new study investigates the impact of 2020 Covid-19 rental eviction moratoria on the wellbeing of US households, finding that eviction moratoria...

Cogs and Monsters: Is Economics Destined to Remain a Dismal Science?

In her bold new book Cogs and Monsters: What Economics Is, and What It Should Be, Cambridge professor Diane Coyle offers a...

Is there a “California Effect” in Data Privacy Law? Why the EU is Not the World’s Privacy Cop

It is common lore in data privacy law and other fields that stringent regulatory standards (such as the ones introduced in the...

Governments Were Forced to Restrict Civil Liberties to Deal With Covid-19. More Flexible Constitutions Could Prevent That From Becoming the New Normal

A new paper argues that exploitation of gaps within democratic constitutions during emergencies, such as the Covid-19 pandemic, has the potential to...