zingales in A Sentence

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Likewise, Zingales argues,“In a socialist economy, the political system controls business;

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Despite all of these commendable features, Zingales's book is not without some blemishes.

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Zingales's reform program would certainly make the U.S. a more just and prosperous society.

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Moreover, isn't Zingales asking for the wolves to pass laws that benefit the sheep?

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Unlike his predecessor's, Zingales's reform measures are far more consistent with the tenets of a free society.

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A key feature of the book is Zingales's reminder that being pro-market is different from being pro-business.

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Lastly, Zingales hits a winning note by stressing the role of culture, norms, and ideas- rather than just institutional reform- in social and political change.

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What's more, Zingales nicely explains how some policies that are not efficient from a strict economic standpoint may nonetheless be good because of their political consequences.

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However, for Zingales,“the benefits conferred by meritocratic capitalism are neither as great nor as widespread as they once were” and“this change weakens political support for the market system.”.

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In short, Zingales did not want the United States to turn into his home country- Italy- with its disabling crony capitalism, something he saw taking root in American finance.

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To allow individuals to take risks and invest in themselves“when the consequences of failure are very harsh,” Zingales also supports a safety net of forgiving bankruptcy laws, unemployment insurance, and job retraining.

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With all of these reforms, Zingales desires simple rules rather than complex ones that invite chicanery- thus, despite the economic arguments against separation of commercial and investment banking, he favors such simple designs as Glass-Steagall.

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Fast forward to today, and we see another Chicago economist, Luigi Zingales, confronting another economic crisis and likewise trying to put capitalism back on the right path in his book, A Capitalism for the People.

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Although his discussion of these factors reads a bit awkwardly and at times seems incomplete compared to his other proposals, Zingales should be praised for bringing these concepts on stage and encouraging us to think more about them.

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In recognizing the danger of bigness- especially big business tied to big government- while hoping to meet the threat with greater respect for markets and freedom, Zingales fuses many of the best parts of the“old” and“new” Chicago Schools.

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