Lagarde

Is Monetary Policy Independence Out of Date? A Mini-Course With Paul Tucker (Part 3)

The Federal Reserve and the ECB have been taking unprecedented steps to react to the financial impact of Covid-19. To frame the debate around the...

The ECB Can Save the Italian Economy and Prevent a New Euro Crisis Triggered by Covid-19 Fallout

The Italian government's effort to contain the coronavirus will have significant economic consequences. Italy should be allowed to ask for emergency help with one...

Governments and Central Banks Have a Few Unpleasant Options to Stop the Economic Contagion

The global economy and financial markets are seriously hit by the coronavirus outbreak. Central banks can do something, but monetary policy is not enough. A fiscal stimulus might mitigate the impact, but the record-level outstanding amount of public and private debt adds additional risk to the current perfect storm.

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Capitalisn't

The Aristocracy of Talent: Business Intelligence

Adrian Wooldridge

In the following excerpt from his new book, The Aristocracy of Talent: How Meritocracy Made the Modern World, Adrian Wooldridge traces "how universities...

Antitrust and Competition

Why Privacy Experts Need a Place at the Antitrust Table

Cristina Caffarra, Johnny Ryan

Antitrust enforcers have tended to stay narrowly “in their lane,” failing to engage with how data is collected and used by digital...

News

Assessing George Stigler’s Economic Theory of Regulation

Cary Coglianese

Despite its flaws and limitations, Stigler’s seminal article on the theory of economic regulation remains an important piece of scholarship worthy of...

Economic History Series

“Old Chicago” and Freiburg: Why Ordoliberalism Was No “German Oddity”

Stefan Kolev, Ekkehard A. Köhler

Both the Chicago and Freiburg schools faced systemic fragility as the crucial property of societal orders. It was this fragility that served...

Commentary

The Many Faces of Stigler’s Theory of Economic Regulation: Interest Group Politics Still Thrives—But Industry Often Comes Second

Richard Epstein

Stigler treats industry groups as the heavyweights in regulatory contests. But surprisingly often groups of farmers and workers knock them for a...