Labor

The Lousy Job Economy: Young People Bear the Brunt of a Long-Term Decline in American Job Quality

A new study finds a steady decline in the quality of American jobs between 1979 to 2017, even as GDP has grown. This decline...

How Robert Bork Fathered the New Gilded Age

Much like in the first Gilded Age, antitrust enforcers today are hitting labor, not capital. This is thanks to Robert Bork’s radical and influential...

The Employment Effects of a Gender-Specific Minimum Wage

The first minimum-wage laws in the history of the United States were predominantly gender-specific in that they were imposing a lower bound only on...

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...

Restoring Antimonopoly Through Bright-Line Rules

The “consumer welfare” approach to antimonopoly is the main contributor to the extreme and dangerous concentrations of power that Americans face today. In place...

The “Biggest Puzzle in Economics”: Why the “Superstar Economy” Lacks Any Actual Superstars

A new study finds that the contribution of superstar firms to US productivity growth has decreased by more than 40 percent over the past...

Rents and Inclusive Growth: A Decline in Rent Sharing Implies Growing Income Inequalities

A new study looks at the long-run evolution of rent sharing between companies and workers in the UK and finds that rent sharing...

Why Local Labor Market Concentration Is Lower Than It Used to Be, Even As National Concentration Increases

A new study compares the trends in national and local industrial concentration between 1976 and 2015, and explains why they diverged. The idea that firms...

How the FTC Protects Strong Employers and Targets Weak Workers

Since the 1970s, the US has seen a growing power imbalance between workers and employers. This story was not inevitable, but the product of...

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...

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...