A key distinction in economic viewpoints that goes oft-unnoticed is between pro-business and pro-market. A good bellwether to where someone stands on the pro-business/market continuum is his/her stance on antitrust policy: pro-business usually favors incumbents, while pro-market calls for aggressive antitrust enforcement to facilitate competition. “I would not dispute that even a monopoly-ridden market would be preferable to any economic system trying to operate without any kind of a market...| ProMarket
An outlet for insiders to speak freely (as they remain anonymous to the reader) on what they perceive as problematic practices in their own industry – with an emphasis on how the industry tweaks the rules of the game and captures regulation. “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which ...| ProMarket
Local governments in the United States spend trillions of dollars each year delivering essential services and infrastructure, with enormous implications for our economy and quality of life. Chris Berry and Justin Marlowe examine the links between municipal governance structures and fiscal outcomes, revealing the state of municipal finances today.| ProMarket
Fiona Scott Morton and David Dinielli show how landmark antitrust cases historically have cleared the path for innovation in the next “frontier technology.” But with closing arguments in the search monopoly case just days away, Google threatens to evade this round of rigorous new competition. It reportedly is in talks to place its own artificial intelligence tool on Apple devices as it did in the case of search. Such a maneuver would entrench Google’s search monopoly and place Google i...| ProMarket
Louise Tillin explores the sources of populism in India, its recent developments, and what this means for the country’s 2024 general election, which begins April 19 and ends June 1.| ProMarket
The Department of Justice is rumored to be planning to sue Live Nation-Ticketmaster for monopolizing markets for live events. Diana L. Moss explores what potential remedies the government might pursue to address competitive harms in markets such as ticketing for concert venues and sports arenas, and ticket resale, including the viability of breaking up the company.| ProMarket
In new research, Yonghong An, Michael A. Williams, and Mo Xiao find that increases in an academic journal’s subscription price and its publisher’s market share leads to fewer article citations, hindering knowledge creation and research collaboration.| ProMarket
The following is an excerpt from the book, Balance of Power: Central Banks and the Fate of Democracies, by Éric Monnet.| ProMarket