October 20 marks the 35th anniversary of George Stigler’s Nobel prize, the first of Booth School of Business’s grand total of eight Nobels. To celebrate the occasion, his longtime colleague at Chicago Booth Sam Peltzman offers a preview of the memorial lecture he’ll deliver at our November “Stigler in the 21st Century” conference.
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The IGM Center at the University of Chicago has asked its American and European economist panel to rate the main causes of the financial crisis. For both American and European economists, the main culprit of the crisis was financial regulation and supervision.
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Former New York governor Eliot Spitzer talks about antitrust, digital platforms, economic concentration, and regulatory capture. Part 2 of 2.
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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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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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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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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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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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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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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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In the past four years, China has been waging the biggest anticorruption campaign in its modern history. Is it working?
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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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