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money in politics

Does a CEO Have a Duty to Lobby?

We need not only more disclosure, but also more work in alerting people in general (and students in particular) about the distortive effects of...
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A New Stigler Center Case Study Explores the Link Between Italy’s Morandi Bridge Disaster and Crony Capitalism

Two years ago, the Morandi bridge collapse claimed 43 lives. Based on financial statements, Italian government documents, and interviews with independent experts...
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The Pandemic Has Revealed America’s Impatience. But America Will Need Patience in the 2020 Election

The proliferation of mail-in voting is likely to make knowing who won the election take much longer than Americans are used to....
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Are We Witnessing the Fall of the American Liberal Order?

In the past 30 years, liberalism has not lived up to its promise to deliver economic returns for the broad majority of...
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The Cantillon Effect: Why Wall Street Gets a Bailout and You Don’t

According to the 18th-century French banker and philosopher Richard Cantillon, who benefits when the state prints money is based on its institutional setup. In...
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“Democracy Is Influenced by Lobbyists, That’s Why the People Also Need Someone to Lobby for Them”

“Individuals usually don’t have enough incentive to take action, even though it is clear they will be collectively better off by taking action.” In...
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The Populist Right Has a Plan to Take Power Away From Financiers and Challenge China

The nationalist rhetoric of the Trump administration can obscure a more sophisticated recognition by some people in the populist world that the core dynamic...
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The World After Covid-19: Inequality Within Rich Countries Will Increase, Globalization Will Reverse, Politics Will Remain Turbulent

The negative effects of the crisis on growth will be very strong. But it will not affect everyone in the same way. If the...
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How US Regulators Allowed Google and Facebook to Become Dominant

The UK's Competition and Markets Authority recently criticized Google and Facebook's excessive market power. American regulators, on the other hand, have allowed them to consolidate...
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American Oligarch: Michael Bloomberg Reveals His One Remaining Path to the Democratic Nomination

Michael Bloomberg's only real path to the nomination was always a contested convention, where he could be able to further leverage his wealth and...
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LATEST NEWS

Media

Bethany McLean’s Weekend Reading List: Wirecard, Covid-Overwhelmed Hospitals, and Plastic

Bethany McLean
Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 
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Friedman 50 Years Later

“50 Years Later, It’s Time to Reassess”: Raghuram Rajan on Milton Friedman and Maximizing Shareholder Value

Raghuram Rajan
The biggest problem with shareholder value maximization is that it completely turns a tin ear to politics. The alternative is to maximize...
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Friedman 50 Years Later

It Is Time to Move on From Friedman’s View of the Corporation

Stefano Zamagni
The anti-CSR position defended by Friedman would be acceptable only under conditions that have never been met by any real-world economy. Furthermore,...
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Friedman 50 Years Later

Corporations Are Already Plenty Powerful. Stakeholder Capitalism Could Make Them More So

Karthik Ramanna
Encouraging corporations to further step into the role of governments and civil society groups by becoming more "socially focused" risks greater depreciation...
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Friedman 50 Years Later

The Real Effects of Environmental Activist Investing

S. Lakshmi Naaraayanan, Kunal Sachdeva, Varun Sharma
A new study examines the efficacy of climate-focused investor engagements initiated by the New York City Pension System. Its findings support the...
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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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What we are readingAntitrust and CompetitionRegulatory CaptureMediaRent seekingMoney in Politics