Inequality

America's "Lost Einsteins" Are Dealing a Blow to Innovation

A new paper finds that America is full of "lost Einsteins" among women, minorities, and low-income groups: high performers who never become inventors because...

Who Are the Top 1 Percent in America? The Answer from New Research Might Surprise You

A new paper challenges Thomas Piketty’s portrayal of an income distribution dominated at the top by passive rentiers who do nothing to earn their money,...

Raghuram Rajan: Populist Nationalism Is “the First Step Toward Crony Capitalism”

The former governor of the Reserve Bank of India discussed the “concentrated and devastating” impact that technology and trade had on blue-collar communities, the anger...

The Rise of Market Power and the Decline of Labor’s Share

A new paper argues that the decline of the labor and capital shares, as well as the decline in low-skilled wages and other economic trends, have been...

Is There a Connection Between Market Concentration and the Rise in Inequality?

A Stigler Center panel debates: Is rising inequality connected to monopolies, rent-seeking, and concentration? The rise in wealth and income inequality has been at the forefront of...

“Our Efforts to Deal With Tech Firms' Market Dominance in the U.S. Have Been an Abject Failure”

In this installment of ProMarket's new interview series, Harvard economist F.M. Scherer answers questions about concentration, antitrust, tech giants, and inequality. "Antitrust agencies have not taken sufficient...

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...

What Role for Antitrust in the Era of Rising Inequality? The Importance of Power in Supply Chains

Concentration of power in supply chains is a prime mechanism by which dominant companies consolidate power and profits. The Sherman Antitrust Act of 1890 was...

Intergenerational Mobility, Guilds and Income in the Very Long Run

New paper compares tax records for family dynasties in Florence in 1427 and 2011, and finds that the top earners of the present day...

LATEST NEWS

George Stigler on Henry Simons, “Crown Prince” of the Chicago School

To mark 75 years since the passing of Henry Simons, professor of Economics and Law at the University of Chicago, ProMarket is...

Electoral College Reform: New Problems or Real Solutions?

Each electoral system creates specific incentives to (mis)allocate government resources. Would putting the National Popular Vote (NPV) in lieu of the Electoral...

When Do Users Benefit From Platform Mergers?

A new paper shows that platform mergers can harness network effects at the cost of reducing the platform differentiation that users value. 

Harold Demsetz and Israel Kirzner Understood That Competition Regulates Markets

Economists Harold Demsetz and Israel Kirzner challenged the prevailing orthodoxy in microeconomic analysis and public policy beginning with their respective work in...

The Covid-19 Pandemic Should Not Delay Actions to Prevent Anticompetitive Consolidation in US Health Care Markets

Harvard Business School professor Leemore Dafny lays out potential reforms to assist agencies in halting anticompetitive acquisitions and practices, and to preserve...