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 income. An...
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 the entry...
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 paper of...
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 mechanisms behind...
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 agencies. It...
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 years after...
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 things enrolled...
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 rarely in...
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 and by...
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 pressure from...
