Max von Thun and Claire Lavin argue that the European Commission must revise its merger guidelines to emphasize how competition policy can protect goals beyond prices, including innovation, security, and democracy. This will create a more prosperous European Union. Read it at ProMarket >>| ProMarket
Surya Gowda reviews Branko Milanović’s Visions of Inequality: From the French Revolution to the End of the Cold War and how his analysis of class and inequality applies to contemporary America. Read it at ProMarket >>| ProMarket
Erik Hovenkamp and A. Douglas Melamed discuss what Judge Amit Mehta got right and wrong in his remedy decision in the Google Search antitrust case. Read it at ProMarket >>| ProMarket
In new research, Priyaranjan Jha, Jyotsana Kala, David Neumark, and Antonio Rodriguez-Lopez find that studies arguing higher minimum wages have no employment effect—or even a positive effect—in many labor markets fail to account for how much less minimum wages matter in larger, higher-wage cities. Read it at ProMarket >>| ProMarket
In new research, Kenneth Coriale, Ethan Kaplan, and Daniel Kolliner show how the Republican Party has benefited more from redistricting and gerrymandering. Their research has important implications for political power and representation in today’s era of razor-thin Congressional majorities. Read it at ProMarket >>| ProMarket
In new research, Tomaso Duso, Joseph Harrington, Carl Kreuzberg, and Geza Sapi demonstrate how their screening tool can aid antitrust authorities in identifying potential collusion between firms through public communications. Read it at ProMarket >>| ProMarket
Kleptocracy is often thought to plague developing countries, but this grand corruption would be infeasible without the West’s financial and legal plumbing to launder misbegotten gains. American and European government initiatives to remedy their complicity have run aground or even reversed course, particularly in the United States under the new Trump administration, writes Alexander Cooley.| ProMarket
In new research, David Gindis and Steven G. Medema trace Henry Manne’s entrepreneurial role in the development of the field of law and economics, beginning with a failed venture to bring together economists and legal scholars, but one that established the foundations for later success. Read it at ProMarket >>| ProMarket
In new research, Adam Callister, Andrew Granato, and Belisa Pang argue that differing incentives faced by plaintiffs and defendants in “battles of the experts” litigation (like securities suits) leads to structurally higher spending by defendants on expert witnesses. These incentives also apply to any class action suit and many individual suits. They argue that courts should take this dynamic into account and correspondingly be more aggressive in using authority to employ court-appointed ...| ProMarket
Fabio De Pasquale, a prosecutor at the Milan prosecutor’s office who led the investigation into energy conglomerates Eni and Shell for their alleged involvement in the OPL 245 corruption scandal (both companies have since been found not guilty), discusses how the case reflects the failures of international anti-corruption efforts. ProMarket is publishing a series of articles in collaboration with Stanford University’s Program on Capitalism and Democracy. Read it at ProMarket >>| ProMarket
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
