Monopolization and consolidation can happen for what seem to be good, or least necessary, reasons. How we respond as a society depends on how we imagine these concentrations of power came to be. Here are four examples of the growth of market power during this pandemic and what they mean.  Today I was on a phone call with a German journalist about monopolyTest footnotes number one. power, and he...

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A New Capitalisn’t Episode

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Mark Steinberg Reads Donald Trump’s Mean Tweets on Kimmel

The main thing that you have to remember on this journey is just be nice to everyone and always smile. Refreshingly,...

How Nancy Reagan Gave Glamour and Class to the White House

The main thing that you have to remember on this journey is just be nice to everyone and always smile. Refreshingly,...

Mobile Marketing is Said to Be the Future of E-Commerce

The main thing that you have to remember on this journey is just be nice to everyone and always smile. Refreshingly,...

Entrepreneurial Advertising: The Future Of Marketing

The main thing that you have to remember on this journey is just be nice to everyone and always smile. Refreshingly,...

Debt Monetization and Lessons from War Financing to Deal With Pandemics: A Webinar With Harold James

Princeton professors Markus Brunnermeier and historian Harold James discuss how much new debt governments will pile up in reaction to the Covid-19 economic fallout. Is the pandemic really similar to a world war? “Wartime analogies underestimate that it is the first time that we see a coordinated effect of many governments to shut down large parts of their economies,” James argues. On Friday, April 24, Harold James joined the Princeton Bendheim Center for Finance for a webinar on the history...

Global Supply Chain Disruptions: A Webinar With Penny Goldberg, Former Chief Economist of the World Bank

Princeton professor Markus Brunnermeier and Yale professor Penny Goldberg, former chief economist of the World Bank, discuss the impact of Covid-19 on international trade and supply chains. "The most serious consequence of this crisis is that it could change our...

Samsung and the Political Power of South Korean Chaebols : a Webinar with Sangin Park and Guy Rolnik

The Stigler Center’s 2020 Antitrust and Competition Conference will discuss the interconnection between monopolies and politics. Our pre-conference Webinar Series explores the extent to which firms can leverage their market power to capture governmental policy—a topic particularly relevant when bailouts and stimulus programs...

UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism”

A new study by the United Nations Conference on Trade and Development argues: The “endemic rent-seeking that stems from market concentration, heightened corporate power,...

COLUMNS

Bethany McLean’s Weekend Reading List: Fracking, Private Equity, and Hospitals

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean. 

How the Tension Between Big Business and Antitrust Will Reshape Post-Covid America

Big Business is going to be structuring the response to the pandemic, at least temporarily. A new generation of leaders and thinkers...

Bethany McLean’s Weekend Reading List: Ring Frauds, PPP, Restaurants and Steak Houses

Corruption, lobbying, corporate malfeasance, and frauds: a weekly unconventional selection of must-read articles by investigative journalist Bethany McLean.    Warning! Self promotion alert. I did this...

Economic Crisis and Poverty Might Kill More People Than the Coronavirus

Saving lives is the priority. Doing so depends on a delicate balance between health, economic, and social variables. But, above all, it depends on a population that trusts that these measures seek the common good, not the interest of a few.

what we're reading

Publicly Traded Companies Got $300 Million In Small Business Loans: AP Investigation

Neither the Trump administration nor the lending industry has disclosed a list of Paycheck Protection Program beneficiaries.

Top Economist: US Coronavirus Response Is Like Third World Country

Joseph Stiglitz attacks Donald Trump, saying US on course for second Great Depression.

Spectrum Employees Are Getting Sick Amid Debate Over Working From Home

More than 230 workers at Charter Communications, the cable and internet giant known as Spectrum, have tested positive for Covid-19.

A Wealth Tax Is the Logical Way to Support Coronavirus Relief

A onetime assessment of the 5 percent at the top would do wonders — and help prove that we are all in this together.

Global Trade Sputters, Leaving Too Much Here, Too Little There

As the pandemic stretches on, consumers and businesses could run short of some products in months to come.

A Crisis of Unnecessary Unemployment

Staggering job losses are not a foregone conclusion. There is still time to fix the federal government’s aid program.

America Will Struggle After Coronavirus. These Charts Show Why

This article is part of "The America We Need," a Times Opinion series exploring how the nation can emerge from this crisis stronger, fairer and more free.

LATEST

How Alliances Carriers Established a Permanent Cartel

The US carriers faced the post 9/11 demand shock, while the European intercontinental flag carriers were facing increased competition in the...

Post-2004 Airline Industry Consolidation Reversed 30 years of Successful Pro-Consumer Policies

A small number of intercontinental carriers recaptured control of industry oversight in Washington and Brussels to convert the world’s most important markets...

Why Consolidation Undermined The Industry’s Ability to Recover From The Coronavirus Crisis

A major factor contributing to the industry’s struggles during the current crisis was the loss of resiliency due to the...

Insider Trading Data Reveals Pandemic Is a Time for Questioning, Not Answering

Following news reports about executives selling shares in their corporations to avoid losses due to the pandemic, a new study takes a...

How Inequality Hurts the Economy and Complicates Policy Responses to the Pandemic

In the years leading up to the pandemic, rising inequality created a saving glut of the rich which pushed down interest rates...

How Barack Obama Spurred the End of America’s Public Presidential Election Funding System

Through 2004, all candidates in the general presidential election opted for public funding and reimbursement of their campaign expenses. Then, in 2008,...

Congress Can Move Now to Stop Amazon’s Cloning Factory. Here’s How

If there was any doubt that online marketplaces should be considered a separate market before the coronavirus wiped out brick-and-mortar retail,...

A New Capitalisn’t Episode: The Risk Of Reopening – a Reading List

Despite warnings from government and health officials, some states are choosing to begin reopening their economies this week by ending lockdown restrictions. In this...

ALSO READ

How to Save 40 percent of the Payroll Protection Program’s Costs

Thanks to the loan program part of the CARES Act, small businesses can receive up to 2.5 times their monthly payroll, regardless of how much...

Governments and Central Banks Have a Few Unpleasant Options to Stop the Economic Contagion

The global economy and financial markets are seriously hit by the coronavirus outbreak. Central banks can do something, but monetary policy is not enough.  A fiscal stimulus might mitigate the impact, but the record-level outstanding amount of public and private debt adds additional risk to the current perfect storm.  

Do Top Economics Journals Hold Female-Authored Papers to Higher Standards?

Articles written by male economists are cited less than articles published by women in the same journals, a new study on gender and quality...

Economics’ Lack of Interest in Gender Proves: the “Dismal Science” Really Is Dismal


Economists are still in the dark about the role of gender. For economics to be credible, we have to recognize that our knowledge is...

“The President’s Executive Order is Pro‑Market and Anti‑Abusive Market Power”

Ten days after the White House issued an executive order and a brief that highlights growing concentration and decreasing competition in the US economy,...

How the “Watergate Babies” Released the Beast of Monopoly Upon America

Why did Washington respond to the 2008 financial crisis by pushing even more wealth and power into the hands of the same people that...

Tainted Philanthropy in Higher Education

Our institutions of higher education should apply appropriate ethical and academic standards when considering financial donations; otherwise, they risk promoting the private interests of...