The Stigler Center aims to promote and disseminate research on regulatory capture, crony capitalism, and the various distortions that special interest groups impose on capitalism.

Nobel laureate George J. Stigler founded the Center for the Study of the Economy and the State at the University of Chicago in 1977. From its inception, the George J. Stigler Center has been a joint enterprise of economists and legal scholars at the University of Chicago Booth School of Business, Department of Economics, and the Law School. The Stigler Center was renamed in George Stigler’s memory after his death in 1991.

The Stigler Center is dedicated to understanding the interaction between politics and the economy. It is an intellectual destination for research on regulatory capture, crony capitalism, and the various forms of subversion of competition by special interest groups. This mission is central to three key elements of George Stigler’s teaching: 1) the appreciation for the role of private markets in promoting human welfare; 2) an understanding of the role that legal infrastructure has on market performance; 3) the realization that the design of this legal infrastructure is all too often captured by the incumbents to prevent entry and competition, rather than to promote human welfare.

The Center is committed to three initiatives:

  1. Connect students, faculty, alumni, and a broader audience across the globe through lectures, conferences, workshops, and the ProMarket blog.
  2. Enhance teaching through the development of courses and business cases.
  3. Support research and academic activities.
Research Highlights

Call for Papers: Concentration, Competition, and Antitrust

The Stigler Center is seeking papers that study concentration and market power in US industries. Selected papers will be presented at a special conference hosted by the Stigler Center on Concentration, Competition, and Antitrust in Chicago on March 27-29, 2017.

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The Market for Financial Adviser Misconduct

Seven percent of financial advisers have misconduct records, and 44 percent are hired within a year. A new paper by Mark Egan, Gregor Matvos, and Amit Seru reveals that misconduct within the financial industry is much more prevalent than previously thought.

Read the working paper »

New Spring 2017 Course on Crony Capitalism BUSF 35220

The economic system prevailing in most of the world today differs greatly from the idealist version of free markets generally taught in economic classes. This course analyzes the role played by corporate governance, wealth inequality, regulation, the media, and the political process in general in producing these deviations. It will explain why crony capitalism prevails in most of the world and why it is becoming more entrenched also in the United States of America. The course, which requires only basic knowledge of economics, welcomes undergraduates.

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Campaign Financing Capture Index

In the 2016 elections, which presidential candidates are really pro-market and which ones are actually only pro-business? Who gets money from special interests and who is more independent? An index created by the Stigler Center at the University of Chicago Booth School of Business sheds new light on the candidates and their economic policies.

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Raghuram Rajan

Blog Post – “Uncompromising Rajan” by Luigi Zingales

Most people in power choose nominees without any outside option, because such people are willing to do anything to be reappointed. Raghuram Rajan is not one of those.

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Pro-Market | The Stigler Center Blog
Financial Trust Index, How much do Americans trust financial institutions?
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