The Project for the Study of American Capitalism

The Project for the Study of American Capitalism

Created in the wake of the 2008 financial crisis, and the government’s subsequent responses, the Project for the Study of American Capitalism at The Mercatus Center is a research program responding to the increased concern about the role of political favoritism in American business.  The project explores the implications of this emerging character of the economy, examining the effects it has on the standard of living in the United States and public perceptions of the legitimacy of government and business. Does it make any difference to average Americans whether ours is a more or less free market? And what can policymakers do to ensure competition and to commit in a credible way to equality of opportunity?

Drawing on hundreds of academics from around the world, the Project for the Study of American Capitalism helps scholars and policymakers investigate the nature of these problems and identify real and sustainable solutions.

Research

Christopher Koopman, Matthew Mitchell, Emily Washington | Sep 30, 2014
A lame duck session of Congress occurs when legislators meet after an election has been held but before the next Congress has taken office. Lame duck sessions are often criticized by the victorious party in the election, and a common critique is that the lame duck members—undisciplined by electoral constraints—vote irresponsibly. There are subtle but statistically significant differences between voting patterns in regular and lame duck sessions, as revealed by analysis of over 50,000 House and Senate roll call votes.
Jeremy Horpedahl | Sep 16, 2014
In Nebraska the total forgone revenue due to tax privileges amounts to just over $2 billion, compared with roughly $7.2 billion in total revenue collected by the relevant taxes. Eliminating these privileges and simultaneously lowering tax rates could save an average Nebraskan family more than $3,200 dollars if the benefits of tax reform are evenly distributed, with no reduction in government services.
Veronique de Rugy, Andrea Castillo | Jul 16, 2014
This paper provides a brief overview of the history and operations of the Ex-Im Bank, followed by an examination of the key justifications for the bank’s continued authorization.
Thomas Stratmann, Jake Russ | Jul 15, 2014
Many states have certificate-of-need regulations, which prohibit hospitals, nursing homes, and ambulatory surgical centers from entering new markets or making changes to the existing capacity of medical facilities without first gaining approval from certificate-of-need regulators.
Russell Sobel, Rachel Graefe-Anderson | Jul 09, 2014
The US federal government’s response to the financial crisis was an unprecedented increase in government subsidies, grants, and contracts given directly to specific private businesses. The terms “crony capitalism” and “cronyism” are now widely used to describe the modern relationship between government and private business.
Matthew Mitchell, Christopher Koopman | Jun 04, 2014
Instead, policymakers should focus on more direct, effective, and less problematic solutions to reduce the tangle of regulatory burdens encountered by craft brewers. Eliminating regulatory burdens for all firms would allow brewers to succeed or fail on the basis of their ability to provide the greatest value to consumers at the lowest cost to society.

Testimony & Comments

Veronique de Rugy | Jun 25, 2014
The Bank has long outlived its purpose and cannot manage to meet the standards of the new missions that have been developed to validate its existence. For policymakers who have the facts, the choice is clear: the Export-Import Bank must go.
Veronique de Rugy | Jul 18, 2012
The Department of Energy’s loan guarantee programs have been the focus of much public attention since energy companies Solyndra, Beacon Power, and Abound went bankrupt, leaving taxpayers to shoulder hundreds of mil- lions of dollars in loan guarantees. The evidence strongly suggests that these programs fall short of their stated goals of developing clean energy and creating jobs.
Todd Zywicki | Jul 10, 2012
Much of the government’s political intervention in the bankruptcy cases appears to have been motivated to benefit the UAW rather than the companies themselves over U.S. taxpayers, who put billions of dollars at risk to fund the bailouts.
Veronique de Rugy | Jun 19, 2012
For obvious reasons, more than any other recent events, the waste of taxpayers’ money due to Solyndra’s failure has attracted much attention. However, the problems with loan guarantees are much more fundamental than the cost of one or more failed projects.
| May 25, 2011
Anthony Sanders testified before the House Committee on Financial Services about steps to end the GSE bailout.
Todd Zywicki | May 24, 2011
Todd Zywicki testified before the House Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs.

Speeches & Presentations

Charts

Veronique de Rugy | Sep 30, 2014
This week’s charts use data from the Export-Import Bank and the Census Bureau to display assistance dispersion among minority- and women-owned exporting firms as a proportion of those in the general economy, along with the top 10 firms that receive assistance and the proportion of their benefits to the whole.

Experts

Videos

Matthew Mitchell | August 25, 2014
In this video, Mercatus Center economist Matthew Mitchell explains what the Ex-Im bank is, what it does, and how it creates both economic winners and losers.

Podcasts

Matthew Mitchell | July 14, 2014
Matthew Mitchell DIscusses Uber and Lyft on KPCC

Books

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