Why is the electoral process not enough to rid nations of pathological political distortions such as cronyism and corruption?
Read more
The Value of Access: How Closeness to the Obama White House Benefited Companies
Between January 2009 and December 2015, White House officials met with corporate CEOs 2,286 times. A new study, to be presented at the upcoming Stigler Center conference on the political economy of finance, shows that access to the White House has several economic benefits.
Read more
Trump and Sinclair’s Art of the Deal
Donald Trump is actually a boon for many media outlets. Consider, for instance, the case of Sinclair’s TV and radio stations that supported him throughout his presidential campaign.
Read more
“No Mistake About it: A Revolt Against Globalization is Underway!”
In this installment of ProMarket’s new interview series, Columbia Law School’s John C. Coffee Jr. shares some thoughts on political engagement by corporations. “Milton Friedman seems to have been wrong in his insistence that directors consider only the interests of shareholders.”
Read more
“Political Engagement by Corporations Derives from and is Focused on Seeking Monopolistic Power”
In this installment of ProMarket’s new interview series, Harvard Business School professor emeritus Joseph Bower shares some thoughts on rent-seeking, politics, and the role of corporations and governments in the market. “The neo-classical model simply does not comprehend the modern corporation.”
Read more
“So Long As Corporate Managers See Their Objective as Maximizing Returns, Rent-Seeking and Regulatory Capture Will Persist”
In this installment of ProMarket’s new interview series on the economic theory of the firm, Harvard Business School professor Lynn Paine discusses the role of corporations and the need to reform capitalism. “Business schools generally do a poor job educating their students about the role of government and business-government relations.”
Read more
“Under President Trump and the Republican Congress, Banks Will Have Even More Ability to Write Regulations That Favor Them”
In this installment of ProMarket’s new interview series on the economic theory of the firm, we ask University of Connecticut law professor and blogger James Kwak if the existing theory should be modified. “Corporations tend to favor policies that allow greater concentration and reduce constraints on their behavior.”
Read more
Executive Orders, Judicial Orders, and the Rule of Law
What does President Trump’s executive order on immigration and its aftermath mean for the rule of law?
Read more