Some of the most pressing challenges of our time—inequality and climate change—require bold proposals to set the United States and the world on a new trajectory. In Fixing the Senate: Equitable and Full Representation for the 21st Century, Roosevelt Fellow Todd N. Tucker explores five ways to realign the body with the functions it was
Rejecting the Theory of the Firm: Why the ‘Free-Market’ Economy is a Myth and How to Rebuild Public Power
Companies today are not working the way that most Americans, policymakers, or the media think that they do. To fight inequality, we need to rewrite the laws that guide corporations. We must first, however, change the way that people understand the role of the American firm in our economy and explore how we can deploy
Public Comment to the Federal Trade Commission on the Preliminary Approval of the Staples-Essendant Merger
Roosevelt Research Associate Adil Abdela and Fellow Marshall Steinbaum submitted a public comment to the Federal Trade Commission (FTC), arguing against the preliminary approval of the Staples-Essendant merger. For more information on anticompetitive business practices see Powerless. For more information on a new standard for antitrust, see The Effective Competition Standard.
Profit over Patients: How the Rules of Our Economy Encourage the Pharmaceutical Industry’s Extractive Behavior
The pharmaceutical industry isn’t working for most people in the US. Over 80 percent of Americans across the political spectrum believe that lowering drug costs should be a “top priority” for lawmakers and believe that prescription drug costs are “unreasonable.” This growing scrutiny presents an opportunity to question the ways that drug corporations run business, as
For nearly half of a century, America’s public corporations have been driven by a shareholder primacy approach to corporate governance, increasingly prioritizing shareholder payments over other, more productive uses of corporate resources. Over the same period, employee bargaining power has decreased and wages for nonexecutive workers have remained flat across sectors. In Ending Shareholder Primacy in Corporate Governance,
The United States has a labor monopsony problem. Though legal tools are already in place to combat monopsony, they have only been used against the most obvious forms of anticompetitive conduct like no-poaching agreements. More generally, there has been virtually no enforcement against abuses of monopsony power in labor markets. In a Roosevelt Institute working
In partnership with the Economic Policy Institute, Roosevelt Research Associate Adil Abdela and Research Director and Fellow Marshall Steinbaum examine the impact of the proposed Sprint/T-Mobile merger on the labor market. Cutting the number of national players in the U.S. wireless industry from four to three, this move would escalate market power in the industry
The Supreme Court is facing a democracy deficit, where the number of justices and the length of their terms have created a Court that does not reflect the views of the American public. This point is underscored by the fact that four out of five members of the conservative majority were nominated by presidents who
In The Unsound Theory Behind the Consumer (and Total) Welfare Goal in Antitrust, a working paper for the Roosevelt Institute, University of Utah economics professor and antitrust scholar Mark Glick examines why the New Brandeisians are correct to reject the consumer welfare (CW) standard. Delving deeper—and pushing antitrust scholarship forward—he argues that the CW or total welfare standard was
The Student Debt Crisis, Labor Market Credentialization, and Racial Inequality: How the Current Student Debt Debate Gets the Economics Wrong
As tuition has risen over the last several decades in the U.S., student loan debt has ballooned. Despite growing debt loads, federal policy encourages the use of loans for financing higher education, based on the assumption that student debt supports increased postsecondary attainment—and, in turn, improved outcomes for individuals and our economy as a whole.