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regulatory capture

Barriers to Entry as Another Source of Top Income Inequality

A new book, The Power of Creative Destruction, explores how lobbying contributes to the increase in the top 1 percent’s share of...
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Lobbying for Globalization: How the Winners Dominate the Politics of Trade Agreements

Lobbying on free trade agreements has been dominated by a few very large firms, which experience large gains as a result of...
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George Stigler’s Paper on Regulation and the Rise of Political Economy

George Stigler’s “The Theory of Economic Regulation” is not just the founding paper of economics of regulation. It is also a founding...
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Stigler’s Interest-Group Theory of Regulation: A Skeptical Note

As a rule, regulation is not acquired by “the industry,” and it is not designed and operated primarily for its benefit. The...
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The Durable Impact of Stigler’s Theory of Economic Regulation

George Stigler’s “The Theory of Economic Regulation” was an early application of public choice reasoning to a practical problem—the work of regulatory...
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Economic Regulation After George Stigler

George Stigler’s “The Theory of Economic Regulation” has left a lasting impact on the academic and real-world practice of regulatory policy. Fifty...
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The Texas Power Failure: How One Market Model Discovered Its Natural Limits

Relying on marginal market prices to provide the incentives for the production and delivery of electricity means that all of the biophysical...
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The Texas Blackouts and the Problems of Electricity Market Design

Even in an ideal electricity market, reliability is an elusive and precarious byproduct of companies’ search for profits. Since market designers are...
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Senator Klobuchar’s Antitrust Bill Doesn’t Go Far Enough

Senator Klobuchar’s bill includes many useful proposals to bolster antitrust enforcement, but the antitrust laws have been so weakened by the courts...
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Does Market Power Lead to Political Power?

A Stigler Center webinar explores what would be the foundations of a political and economic system that might be more resilient to...
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Announcing the Participants in the Fall 2021 Stigler Center Journalists in Residence Program

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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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