In the second part of our two-part interview with Daniel Goldstein, MD, an oncologist who studies the influence of business interests on healthcare, we talk about the capture of the health system by pharmaceutical companies.
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Big Four Audit Firms Enjoy a “Too Few to Fail” Regulatory Hall Pass
The failure of Enron and subsequent demise of Arthur Andersen led to significant changes for public reporting and auditing but not much change in the concentration of audit market power among the remaining Big Four global firms: Deloitte, Ernst & Young, KPMG, and PwC.
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How Financial Regulations Can Create Barriers to Entry: The Case of Cumplo in Chile
A new Stigler Center case study chronicling the story of Chile’s first crowdfunding platform and its early regulatory challenges illustrates how financial regulations can be effectively used by incumbents to stifle competition.
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Could the Fed Have Rescued Lehman Brothers? Q&A with Laurence Ball
A new study argues that the Federal Reserve could have saved Lehman Brothers from bankruptcy, but chose not to, partly because of political pressures.
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Democracy Against Domination: Overcoming Economic Power and Regulatory Failure in the New Gilded Age
The financial crisis—and the limits of our regulatory response to the crash—offer important lessons for our broader understandings of how to conceptualize and institutionalize economic governance in an era of economic and political inequality.
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Watch: Deutsche Bank Whistleblower Eric Ben-Artzi Explains What it Takes to Blow the Whistle on Fraud
Ben-Artzi: “The problem is not that you have misbehavior on Wall Street. It’s that you have misbehavior by the people who are supposed to enforce the law, by the prosecutors, by the regulators.”
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Earnings Inequality: The Implications of the Rapidly Rising Cost of Employer-Provided Health Insurance
The problem of rising healthcare costs cannot be fixed by the current prescription of redistributive policies. Policymakers must redirect their focus.
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Is China Succeeding in the War Against Corruption? Q&A with Bernard Yeung
In the past four years, China has been waging the biggest anticorruption campaign in its modern history. Is it working?
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It Takes a Village to Maintain a Dangerous Financial System: Q&A with Anat Admati
Stanford professor Anat Admati discusses her new paper, in which she explains how a mix of distorted incentives, ignorance, confusion, and lack of accountability contributes to the persistence of a dangerous and poorly regulated financial system.
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Capture and Ignorance in Financial Regulation
The most fruitful avenue for reducing regulatory capture is to impose more checks-and-balances on our agencies, reversing recent trends toward expediency.
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Is the Digital Economy Much Less Competitive Than We Think It Is?
Maurice E. Stucke from the University of Tennessee Knoxville and Ariel Ezrachi of Oxford University explain how big data and artificial intelligence can be used to facilitate collusion and potentially harm consumers. The first part of a two-part interview.
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American Antitrust Is Having a Moment: Some Reactions to Commissioner Ohlhausen’s Recent Views
Contrary to what Federal Trade Commissioner Maureen Ohlhausen says, there is in fact no meaningful proof that consolidation generates social benefits.
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