How did unfettered business become a bipartisan issue? Professor Luigi Zingales explains why Democrats and Republicans are both pro-business parties, at the expense of everyone else.

  • Nick Hanauer and David Goldstein had a long conversation about the shifting relationship between economics, politics, and business with Luigi Zingales, an esteemed professor of finance at the University of Chicago in the Booth School of Business.
  • Zingales, the author of "A Capitalism for the People: Recapturing the Lost Genius of American Prosperity," is also the director of the Stiegler Center, which studies how vested interests are subverting the competitive market economy.
  • NH: I would submit to you that there were a bunch of ideas that came out of the economics profession, a lot of it from Chicago, that led people in both political parties to a policy framework that ended up concentrating wealth and making our markets effectively less competitive — this idea that the only purpose of the corporation is to enrich shareholders, and by so doing, we maximize benefits to everybody being the canonical example of that.

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