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

"What Insights Do Taxi Rides Offer into Federal Reserve Leakage?”

Big data is powerful. PhD candidate David Andrew Finer gained access to the database of over 500 million New York City taxi rides dating back to 2009 and found "highly statistically significant evidence of increases in opportunities for information flow" between the Federal Reserve Bank of New York and major commercial banks. Check out the media coverage of one of the latest Stigler working papers.

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10th Year of Chicago Booth/Kellogg School’s Financial Trust Index Shows an Uptick of Public Faith in Markets

A decade after the financial crisis, average faith in market institutions is recovering—especially among high-income individuals and Republicans—while trust in government is on a downward trend.

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The Market for Financial Advisor Misconduct

After the far-reaching media buzz caused last year by Stigler Center Working Paper on the job market for financial advisors with a history of professional misconduct, the authors are back with a user-friendly new resource for anyone who wants to know more. Mark Egan of Harvard, Gregor Matvos of UT Austin, and Amit Seru of Stanford have now made the data from their groundbreaking research publicly available.

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