Economists' capture

Uber and the Sherlock Holmes Principle: How Control of Data Can Lead to Biased Academic Research

How can we ensure that academic journals do not become an unintended instrument in the PR efforts of powerful firms? Luigi Zingales offers some...

Aaron Director and the Empirical Foundation for the Chicago Attitude on Antitrust

Empirical evidence, not just disembodied theory, was an important building block of Director’s view that competition could defeat concentration, writes Daniel Kuehn. Editor's note: Aaron...

A Fair Amount of Freedom for Everyone: Aaron Director Did Have Ideals

David Henderson of the Hoover Institution defends the legacy of Aaron Director, the most enigmatic among the founders of the so-called "Chicago School." Director, argues...

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...

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,...

Thomas Piketty's New Book Brings Political Economy Back to Its Sources

In the same way that Capital in the Twenty-First Century transformed the way economists look at inequality, Piketty's new book Capital and Ideology will...

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 Future of Capitalism and the Utopia That Never Was

In his review of Paul Collier’s recent book The Future of Capitalism, Branko Milanovic discusses ideology, social democracy, and the "ethical world."     Paul Collier’s...

Horizontal Shareholding’s Anticompetitive Effects and the Mechanisms That Produce It

Waiting for further proof of causal mechanisms before addressing the anticompetitive harm caused by horizontal shareholding is unjustified, just as it was when people...

Protecting the Independence and Integrity of Research: Introducing the Academic Capture Warning System

Inappropriate financial donor influence at institutions of higher education appears to be on the rise and risks eroding public trust in academic research. In...

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Opening the Black Box: The Hidden Costs of Data-Driven Mergers in Health Care

Vertical data-driven mergers between health insurers and drug suppliers may facilitate health insurers’ efforts to discriminate against vulnerable populations, leaving them without...

Most Americans Consider Themselves Middle-Class. But Are They?

There are different ways of determining who should be considered middle-class. But there is one thing they have in common: all reveal...

Barriers to Entry as Another Source of Top Income Inequality

A new book, The Power of Creative Destruction, explores how lobbying contributes to the increase in the top 1 percent’s share of...

ProMarket Reader Survey: We Want Your Feedback

As ProMarket enters its sixth year of operation, we would like to understand what you, our readers, like about it and what...

What Stakeholder Capitalism Can Learn From Jensen and Meckling

Jensen and Meckling’s 1976 article is an academic classic, but heavily criticized by stakeholder capitalists for arguing that corporate structures should be...