regulatory capture

What Insights Do Taxi Rides Offer into Federal Reserve Leakage?

Does investment-relevant information leak from the Fed? A new Stigler Center working paper finds surprising and novel evidence in a public dataset.     One of the...

Editors’ Briefing: On Our Radar This Week (Feb. 24–March 3)

This week in political economy.       Italy’s elections are on Sunday, and with the polls being inconclusive and the reemergence of former PM Silvio Berlusconi...

Editors’ Briefing: On Our Radar This Week (Feb. 17–Feb. 24)

This week in political economy.     Is the US economy being strangled by a lack of competition? In the Harvard Business Review, David Wessel provides...

Guns and Votes: The Victory of an Intense Minority Against an Apathetic Majority

This column on the "gun-control paradox"—the fact that gun regulations continually fail in the US Congress despite being supported by around 90 percent of...

Editors’ Briefing: On Our Radar This Week (Feb. 10–Feb. 17)

This week in political economy. Yesterday's New York Times editorial: “The terror that has gripped their elected officials … is fear of the wealthy gun...

Case 2000: How Netanyahu and Israel’s Most Powerful Media Mogul Planned to Subvert the Market for News and Ideas

It doesn’t involve a high-profile American billionaire, and yet of the two cases on which the police recommended indicting Israel’s prime minister, “Case 2000”...

Angus Deaton on the Under-Discussed Driver of Inequality in America: “It’s Easier for Rent-Seekers to Affect Policy Here Than In Much of Europe”

In an interview with ProMarket, Nobel Prize-winning economist Angus Deaton talks about the connection of rent-seeking and monopolization to rising inequality.     In December, the United...

Editors’ Briefing: On Our Radar This Week (Jan. 29–Feb. 2)

This week in political economy.   As cities across America continue to compete for Amazon’s second headquarters, Federal Reserve Bank of Minneapolis President Neel Kashkari...

Are Google and Facebook Monopolies?

Chicago Booth’s Luigi Zingales and George Mason University’s Tyler Cowen discuss the market power wielded by digital platforms, and how to promote competition.         Google and...

The Other World Bank Scandal: A New Study Documents How Corporate Collusion Hurts the Bank’s Credibility—and Harms Sustainable Development

While the World Bank scrambles to contain the Doing Business rankings firestorm, a new paper by Rabia Malik and Randall Stone traces a more...

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

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

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

The biggest problem with shareholder value maximization is that it completely turns a tin ear to politics. The alternative is to maximize...

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

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

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

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

The Real Effects of Environmental Activist Investing

A new study examines the efficacy of climate-focused investor engagements initiated by the New York City Pension System. Its findings support the...