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markups

The Cost of America’s Oligopoly Problem

An innovative new study finds substantial, increasing deadweight losses resulting from oligopolistic behavior and points to the important role that startup acquisitions—particularly by large...
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Global Declining Competition

Studies of the evolution of market power since 2000 have focused mostly on publicly traded US firms. This column introduces a new global study...
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What Current Research (Still) Gets Wrong about Market Power

Two much-discussed new studies argue that market power is on the rise not only in the United States, but also around the world. Here,...
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70 Years of US Corporate Profits

A new Stigler Center working paper shows that after decades of decline, profits started increasing in the early 1980s. Financial profit is ostensibly the...
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Factorless Income and Some Skepticism on the Case for Rising Markups

If imputed payments to labor and capital don’t add up to GDP, what should be done with the residual? New research from Chicago Booth...
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LATEST NEWS

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...
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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...
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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...
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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...
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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...
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ProMarket is dedicated to discussing how competition tends to be subverted by special interests. The posts represent the opinions of their writers, not necessarily those of the University of Chicago, the Booth School of Business, or its faculty. For more information, please visit ProMarket Policy.

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