In today’s world, corporate lobbying is everywhere. Corporations wield immense power over our economy and use their economic clout to influence policymakers, politicians and regulators in a way that can lead to corporate welfare and crony capitalism.
Luigi Zingales is a finance professor at the University of Chicago Booth School of Business and the author of two widely-reviewed books, “Saving Capitalism from the Capitalists” and “A Capitalism for the People”. He is also a faculty research fellow for the National Bureau of Economic Research, the Center for Economic Policy Research, and a fellow of the European Governance Institute. He is also the director of the Stigler Center for the Study of the Economy and the State.
Luigi Zingales' research interests span from corporate governance to financial development, from political economy to the economic effects of culture. He co-developed the Financial Trust Index, which is designed to monitor the level of trust that Americans have toward their financial system.
Luigi and Greg talk about the problematic revolving door policy of politicians and lobbyists, why the conceptual distinction between being pro-market and pro-business has dissolved, and how we can practically enforce some kind of social norm around corporate lobbying.
