regulatory capture
The Big Picture: Clientelism, Plutocracy, and Democratization
Why is the electoral process not enough to rid nations of pathological political distortions such as cronyism and corruption?
This is the second installment of ProMarket’s...
Eliot Spitzer: The U.S. Never Had the Will and the Ability to Hold the Most Powerful to Account
In a special interview with ProMarket, former New York governor Eliot Spitzer talks about financial regulation, regulatory capture, and antitrust. Part 1 of 2.
Clear rules and...
How Biology Explains Back-Scratching Between Wall Street and Government
The revolving door of government and business explained in the lab.
The systemic financial risk-taking in the lead-up to the financial crisis was a product...
Where Friedman Was Wrong
A new paper by Oliver Hart and Luigi Zingales argues that a company’s objective should be the maximization of shareholders’ welfare, not value.
In 1970,...
"The Pharmaceutical Industry Has a Large Amount of Control Over the Field of Oncology"
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...
When Medical Experiments Serve the Business Needs of Pharmaceutical Firms Instead of Science
The first part of a two-part interview with Daniel Goldstein, MD, an oncologist who also studies the influence of business interests on healthcare—from treating patients...
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...
How Market Power Leads to Corporate Political Influence
Neoclassical economic theory assumes that firms have no power to influence the rules of the game. A new paper by Luigi Zingales argues: This is...
Spoiled Meat Scandal Reveals the Influence of Business and Media on Brazil's Politics
The recently-released secret taping of a conversation between Brazil’s president Michel Temer and one of the country's most prominent businessmen reveals the extent to which big business...
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...
