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During a Pandemic, Beware the Man of One Model

"I have great respect for the scientific model builders who attempt at quantifying the uncertainty we face and those policy advisors who are willing to accept differences...

The Case for Lockdown: in Italy’s Lombardy, It Can Reduce Covid-19 Potential Fatalities from 160,000 to 25,000

According to an analysis by Bocconi University professor Carlo Favero, the number of people infected with the coronavirus in Lombardy, Northern Italy, is 120,000, while...

Testing People and Targeted Isolation: How to Save More Lives (and the American Economy)

Nobel laureate Paul Romer's model shows that if we use a test to determine who gets put into isolation, the fraction of the population...

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The Aristocracy of Talent: Business Intelligence

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

Why Privacy Experts Need a Place at the Antitrust Table

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

Assessing George Stigler’s Economic Theory of Regulation

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

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

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

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

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