George J. Stigler Center for the Study of the Economy and the State

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Stigler Center for the Study of the Economy and the State </h1> <div class="copy-container"> <h2 class="large TGcondensed">At the intersection of politics and the economy.</h2> </div> </div> </div> </div> </div> </div> </section>  <section class="component body-copy-noimage " data-modulename="body-copy-noimage"> <div class="section-container bodyCopy-container "> <span class="visual-element"></span> <div class="body-copy"> <div class="copy-container"> <p><span class=" medium TGcondensed">The Stigler Center is dedicated to promoting the power of markets to enhance human welfare.</span> </p> <p>We confront conventional thinking and investigate the obstacles preventing markets from being truly competitive.</p> <p><a href="https://www.chicagobooth.edu/research/stigler#register" class="WhiteButton">Connect with Us</a></p> </div> </div> </div> </section>   <section class="component no-padding " data-moduleName="swiss-row-one-half-img-alternating" data-swissRow="swiss-row-one" data-swissVariant="half-img-alternating"> <div class="swiss-row-one half-img-alternating section-container text-left Swiss-Container">  <article class=" "> <a href="https://www.chicagobooth.edu/research/stigler/events" title="Attend an Event" > <picture class="lozad-picture" data-iesrc="/-/media/project/chicago-booth/centers/stigler/chicago-booth-ragu-luigi.jpg?cx=0.85&cy=0.37&cw=940&ch=749&hash=ACB43AE8EBE7A54A1E62D12EEF94B445" data-alt="Professsors Luigi Zingales and Raghuram Rajan on the dias during an event "> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="Professsors Luigi Zingales and Raghuram Rajan on the dias during an event Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-ragu-luigi.jpg?cx=0.85&cy=0.37&cw=940&ch=749&hash=ACB43AE8EBE7A54A1E62D12EEF94B445" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-ragu-luigi.jpg?cx=0.85&cy=0.37&cw=940&ch=749&hash=ACB43AE8EBE7A54A1E62D12EEF94B445"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-ragu-luigi.jpg?cx=0.85&cy=0.37&cw=600&ch=478&hash=BA34D18D4F60976EFDCB07E054F2BDF2" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-ragu-luigi.jpg?cx=0.85&cy=0.37&cw=600&ch=478&hash=BA34D18D4F60976EFDCB07E054F2BDF2"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://www.chicagobooth.edu/research/stigler/events" >Attend an Event</a> </h2> <div class="swiss-text"> <p>Our speaker series, conferences, and minicourses provide a platform for exploring issues at the intersection of politics and the economy.</p> <a href="https://www.chicagobooth.edu/research/stigler/events" class="link-icon" > <span class="sr-only">Attend an Event</span> </a> </div> </div> </article>   <article class=" "> <a href="https://www.chicagobooth.edu/research/stigler/research" title="Explore Our Research" > <picture class="lozad-picture" data-iesrc="/-/media/project/chicago-booth/centers/stigler/chicago-booth-garicano.jpg?cx=0.62&cy=0.21&cw=940&ch=749&hash=302A0E0A048EC27B5765E2BA95B8CA01" data-alt="Luis Garicano pointing at a screen during a presentation"> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="Luis Garicano pointing at a screen during a presentation Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-garicano.jpg?cx=0.62&cy=0.21&cw=940&ch=749&hash=302A0E0A048EC27B5765E2BA95B8CA01" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-garicano.jpg?cx=0.62&cy=0.21&cw=940&ch=749&hash=302A0E0A048EC27B5765E2BA95B8CA01"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-garicano.jpg?cx=0.62&cy=0.21&cw=600&ch=478&hash=3DEA1811B92683B888CEBD1A831F604A" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-garicano.jpg?cx=0.62&cy=0.21&cw=600&ch=478&hash=3DEA1811B92683B888CEBD1A831F604A"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://www.chicagobooth.edu/research/stigler/research" >Explore Our Research</a> </h2> <div class="swiss-text"> <p>Our research empowers students, citizens, policymakers, academics, and future business leaders with information to support competitive markets.</p> <a href="https://www.chicagobooth.edu/research/stigler/research" class="link-icon" > <span class="sr-only">Explore Our Research</span> </a> </div> </div> </article>   <article class=" "> <a href="https://www.chicagobooth.edu/research/stigler/education" title="Education in Action" > <picture class="lozad-picture" data-iesrc="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-ediucation-in-action.jpg?cx=0.62&cy=0.25&cw=940&ch=749&hash=C0B7D2914E7E63653BDFD6A0A57D4ECD" data-alt="Woman in front of a screen lecturing"> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="Woman in front of a screen lecturing Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-ediucation-in-action.jpg?cx=0.62&cy=0.25&cw=940&ch=749&hash=C0B7D2914E7E63653BDFD6A0A57D4ECD" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-ediucation-in-action.jpg?cx=0.62&cy=0.25&cw=940&ch=749&hash=C0B7D2914E7E63653BDFD6A0A57D4ECD"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-ediucation-in-action.jpg?cx=0.62&cy=0.25&cw=600&ch=478&hash=F161A209CEF54DAA46906BD09A13BE7D" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-ediucation-in-action.jpg?cx=0.62&cy=0.25&cw=600&ch=478&hash=F161A209CEF54DAA46906BD09A13BE7D"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://www.chicagobooth.edu/research/stigler/education" >Education in Action</a> </h2> <div class="swiss-text"> <p>Our Journalists in Residence Program aims to shape the next generation of business reporting, and our courses and case studies are valuable learning tools.</p> <a href="https://www.chicagobooth.edu/research/stigler/education" class="link-icon" > <span class="sr-only">Education in Action</span> </a> </div> </div> </article>   <article class=" "> <a href="https://www.chicagobooth.edu/research/stigler/about" title="About the Stigler Center" > <picture class="lozad-picture" data-iesrc="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-speaking-sign.jpg?cx=0.14&cy=0.45&cw=940&ch=749&hash=2A66DDF2E31211BBE590678657E96E5D" data-alt="Two men and a woman on the dias at a Stigler Center event"> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="Two men and a woman on the dias at a Stigler Center event Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-speaking-sign.jpg?cx=0.14&cy=0.45&cw=940&ch=749&hash=2A66DDF2E31211BBE590678657E96E5D" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-speaking-sign.jpg?cx=0.14&cy=0.45&cw=940&ch=749&hash=2A66DDF2E31211BBE590678657E96E5D"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-speaking-sign.jpg?cx=0.14&cy=0.45&cw=600&ch=478&hash=F041CC16991607C1956B198850AFCAFD" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-group-speaking-sign.jpg?cx=0.14&cy=0.45&cw=600&ch=478&hash=F041CC16991607C1956B198850AFCAFD"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://www.chicagobooth.edu/research/stigler/about" >About the Stigler Center</a> </h2> <div class="swiss-text"> <p>Learn more about our team, impact, and founder, and explore how to engage with the Stigler Center. </p> <a href="https://www.chicagobooth.edu/research/stigler/about" class="link-icon" > <span class="sr-only">About the Stigler Center</span> </a> </div> </div> </article>  </div> </section>   <section class="component no-padding " data-moduleName="swiss-row--half-img-left" data-swissRow="swiss-row-" data-swissVariant="half-img-left"> <div class="swiss-row- half-img-left section-container text-left Friedman2-Swiss-Container">  <article class=" "> <a href="https://www.promarket.org/2022/06/15/new-ebook-revisits-george-stiglers-theories-of-regulatory-capture-50-years-later" title="George Stigler, 50 Years Later" > <picture class="lozad-picture" data-iesrc="/-/media/research/stigler/new-stigler/george-stigler.jpg?cx=0.63&cy=0.21&cw=940&ch=749&hash=45B1A040F3521F65A4E3F7882928B7C0" data-alt="George Stigler in classroom"> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="George Stigler in classroom Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/research/stigler/new-stigler/george-stigler.jpg?cx=0.63&cy=0.21&cw=940&ch=749&hash=45B1A040F3521F65A4E3F7882928B7C0" data-src="/-/media/research/stigler/new-stigler/george-stigler.jpg?cx=0.63&cy=0.21&cw=940&ch=749&hash=45B1A040F3521F65A4E3F7882928B7C0"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/research/stigler/new-stigler/george-stigler.jpg?cx=0.63&cy=0.21&cw=600&ch=478&hash=7BBF651D3706A9D757D4D6907E5CE109" data-src="/-/media/research/stigler/new-stigler/george-stigler.jpg?cx=0.63&cy=0.21&cw=600&ch=478&hash=7BBF651D3706A9D757D4D6907E5CE109"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://www.promarket.org/2022/06/15/new-ebook-revisits-george-stiglers-theories-of-regulatory-capture-50-years-later" >George Stigler, 50 Years Later</a> </h2> <div class="swiss-text"> <p>In 2021, to mark the 50-year anniversary of George Stigler’s seminal piece “The Theory of Economic Regulation,” the Stigler Center publication <em>ProMarket </em>published an e-book collection of articles commemorating this landmark article and assessing where his theory stands in today’s world.</p> <a href="https://www.promarket.org/2022/06/15/new-ebook-revisits-george-stiglers-theories-of-regulatory-capture-50-years-later" class="link-icon" > <span class="sr-only">George Stigler, 50 Years Later</span> </a> </div> </div> </article>  </div> </section>  <section class="component persistent-module light-gray hide-cta teal-banner " data-moduleName="persistent-module-light-gray"> <div class="section-container bodyCopy-container "> <span class="visual-element"></span> <div class="body-copy"> <img src="/-/media/project/chicago-booth/global-assets/icons/email.svg?h=57&w=100&la=en&hash=797FB7394BD791CF6B0FEB2D337AF1E8" height="57" width="100" class="icon-img" alt="Email icon" /> <h2 class="h3">Connect with Us</h2> <span id="register" style="display: block; transform: translateY(-80px);"></span> <p>Sign up to receive emails from the Stigler Center on upcoming events, faculty research, new initiatives, and more. </p> <br> <script src="//app-ab11.marketo.com/js/forms2/js/forms2.min.js"></script> <form id="mktoForm_3652"></form> <script>MktoForms2.loadForm("//app-ab11.marketo.com", "211-EMI-454", 3652);</script> <p> <a href="https://www.chicagobooth.edu/research/stigler#register" class="btn btn-white" title="Stigler Center" >Stigler Center</a></p> </div> </div> <div class="persistent-copy" data-bannerColor="teal-banner"> <div class="container"> <section class="component body-copy-noimage no-padding"> <div class="section-container bodyCopy-container "> <span class="visual-element"></span> <div class="body-copy"> <div class="copy-container"> <h2 class="h5"> <a href="https://www.chicagobooth.edu/research/stigler#register" title="Stigler Center" >Stigler Center</a> <a href="https://www.chicagobooth.edu/research/stigler#register" class="icon" title="Stigler Center" ><img src="/-/media/project/chicago-booth/global-assets/icons/email.svg?h=57&w=100&la=en&hash=797FB7394BD791CF6B0FEB2D337AF1E8" alt="Email icon" /> <span class="sr-only">Connect with Us</span> </a> </h2> </div> </div> </div> </section> <span class="closebtn" tabindex="0"></span> </div> </div> </section>  <section class="component no-padding-bottom body-copy-noimage " data-modulename="body-copy-noimage"> <div class="section-container bodyCopy-container "> <span class="visual-element"></span> <div class="body-copy"> <div class="copy-container"> <h2>Engage Further With Stigler Center</h2> <p></p> </div> </div> </div> </section>   <section class="component no-padding-top " data-moduleName="swiss-row-two-half-img-left" data-swissRow="swiss-row-two" data-swissVariant="half-img-left"> <div class="swiss-row-two half-img-left section-container text-left Swiss-Container">  <article class=" "> <a href="https://www.capitalisnt.com/" title="Capitalisn’t " > <picture class="lozad-picture" data-iesrc="/-/media/project/chicago-booth/centers/stigler/chicago-booth-capitalisnt-logo.jpg?cx=0.5&cy=0.41&cw=940&ch=749&hash=363BCD54D6DA99714492E1325E2DC97E" data-alt="Capital Isn't logo"> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="Capital Isn't logo Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-capitalisnt-logo.jpg?cx=0.5&cy=0.41&cw=940&ch=749&hash=363BCD54D6DA99714492E1325E2DC97E" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-capitalisnt-logo.jpg?cx=0.5&cy=0.41&cw=940&ch=749&hash=363BCD54D6DA99714492E1325E2DC97E"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-capitalisnt-logo.jpg?cx=0.5&cy=0.41&cw=600&ch=478&hash=B18E2AFE2873F3A87140D9064821E435" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-capitalisnt-logo.jpg?cx=0.5&cy=0.41&cw=600&ch=478&hash=B18E2AFE2873F3A87140D9064821E435"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://www.capitalisnt.com/" >Capitalisn’t </a> </h2> <div class="swiss-text"> <p>Capitalisn’t, the Stigler Center podcast, examines the ways capitalism is—or more often isn’t—working in our world today. Hosted by Vanity Fair contributing editor Bethany McLean and Chicago Booth's Luigi Zingales, we explain how capitalism can go wrong, and what we can do to fix it.</p> <a href="https://www.capitalisnt.com/" class="link-icon" > <span class="sr-only">Capitalisn’t </span> </a> </div> </div> </article>   <article class=" "> <a href="https://promarket.org" title="ProMarket" > <picture class="lozad-picture" data-iesrc="/-/media/project/chicago-booth/centers/stigler/chicago-booth-promarket.jpg?cx=0.5&cy=0.42&cw=940&ch=749&hash=03D753BD4C6A396B664047F808269D56" data-alt="ProMarket logo"> <img class="placeholder" src="/Assets/Chicagobooth/img/4-by-3.svg" width="940" height="749" alt="ProMarket logo Placeholder" /> <source media="(min-width:960px)" width="940" height="749" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-promarket.jpg?cx=0.5&cy=0.42&cw=940&ch=749&hash=03D753BD4C6A396B664047F808269D56" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-promarket.jpg?cx=0.5&cy=0.42&cw=940&ch=749&hash=03D753BD4C6A396B664047F808269D56"> <source media="(max-width:959px)" width="600" height="478" srcset="/-/media/project/chicago-booth/centers/stigler/chicago-booth-promarket.jpg?cx=0.5&cy=0.42&cw=600&ch=478&hash=66A71851F436A51ED279C4275DBA1479" data-src="/-/media/project/chicago-booth/centers/stigler/chicago-booth-promarket.jpg?cx=0.5&cy=0.42&cw=600&ch=478&hash=66A71851F436A51ED279C4275DBA1479"> </picture> <div class="gradient"></div> </a> <div class="copy "> <h2> <a href="https://promarket.org" >ProMarket</a> </h2> <div class="swiss-text"> <p>ProMarket, the publication of the Stigler Center, promotes discussion about the many ways in which special interests subvert competition in the marketplace. In the finest University of Chicago tradition, ProMarket does so with data and the rigor of academic work, but without the pedantry that often accompanies them.</p> <a href="https://promarket.org" class="link-icon" > <span class="sr-only">ProMarket</span> </a> </div> </div> </article>  </div> </section>  <section class="component body-copy-noimage " data-modulename="body-copy-noimage"> <div class="section-container bodyCopy-container "> <span class="visual-element"></span> <div class="body-copy"> <div class="copy-container"> <h2>Follow the Stigler Center</h2> <ul class="social"> <li><a rel="noopener noreferrer" rel="noopener noreferrer" class="icon external" href="https://www.facebook.com/StiglerCenter/" target="_blank" title="Stigler Center Facebook"><img src="/-/media/project/archive/assets/facebook.svg?h=40&w=40&hash=A7E2A695F307930D3A3AE1FE44DC75BD" style="height: 40px; width: 40px;" alt="Facebook" /></a></li> <li><a rel="noopener noreferrer" rel="noopener noreferrer" class="icon external" href="https://twitter.com/StiglerCenter" target="_blank" title="Stigler Center Twitter"><img src="/-/media/project/archive/assets/twitter.svg?h=33&w=40&hash=D94A219E4300C66995B085B87DFDD4CC" style="height: 33px; 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