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LPE Originals

Big Pharma’s Get-Out-of-U.S.-Tax-Free Card

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While many industries excel at not paying U.S. corporate taxes, the pharmaceutical industry takes the cake – despite $400 billion in prescription drug sales in 2022, Big Pharma claimed to have close to zero taxable income. One of their principal methods for maintaining this charade is the constant threat of exit, moving their headquarters abroad to avoid U.S. taxes altogether. In order to collect more much needed tax revenue from corporations, policymakers must first constrain Big Pharma’s ability to simply abandon ship.
LPE Originals

The Means-Testing Industrial Complex

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As Republicans tightened work requirements and eligibility rules for Medicaid and SNAP last year, Equifax’s CEO openly celebrated the profits to be made from administering this deprivation. Means-testing and administrative complexity have turned America’s safety net into a lucrative revenue stream for monopolistic private contractors, underscoring the need for public data infrastructure and simpler eligibility rules.
LPE Originals

Immigration Agencies Are Openly Defying Federal Courts

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Federal courts have overwhelmingly rejected the Trump Administration’s radical expansion of mandatory detention. Despite this, ICE continues to arrest and detain tens of thousands of people each month, effectively nullifying judicial oversight through sheer scale.
LPE Originals

Inside the Failure to Regulate Stablecoins

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From legislative paralysis to regulatory fragmentation to strategic incoherence, Democrats have spent the past five years squandering opportunities to assert control over the future of digital currencies. To reverse course, progressives need to embrace a coordinated approach that balances innovation, privacy, and systemic risk.
LPE Originals

The Long Anti-Tax Tradition of American Oligarchy

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Throughout U.S. history, oligarchs have fettered the tax power of the state to ensure that the government would be too feeble to rein in their power. The Trump Administration’s capricious tariffs and mass firings at the Internal Revenue Service are the latest iteration of this long, anti-tax, anti-democratic tradition.
LPE Originals

The Rise of OIRA 2.0

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The Trump Administration’s use of individualized, firm-level waivers and exemptions marks a new frontier in presidential control of the administrative state. This strategy allows the administration to bypass the formal process for repealing regulations while turning deregulation itself into a tool for distributing political favors.
LPE Originals

Predistribution and the Law and Economics of Income Inequality

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Law and Economics scholars argue that if income redistribution is to happen at all, it should occur exclusively through the tax system, rather than through supposedly less efficient methods, such as the minimum wage, collective bargaining, or housing regulation. Yet even by their own lights, these arguments fail: in many cases, predistributive policies are actually more efficient than the tax and transfer system. More fundamentally, to address economic inequality, we must move beyond narrow issues of distribution and transform the mode of production itself.
LPE Originals

Rebuilding State Authority In A Post-Trump America

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In the ruins of the administrative state after Trump, many on the left see an opportunity to design a New Deal-type reconstruction agenda. But building state capacity requires a government that is seen as legitimate, and it is precisely the erosion of legitimacy in the eyes of the public that has enabled Trump to carry out his deconstructive agenda.
LPE Originals

The Neoliberal Foundation of the Authoritarian Turn in Higher Education

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Recent authoritarian attacks on higher education mark a significant shift from the neoliberal era, which celebrated institutional independence from the state, the role of education in boosting worker productivity, and the value of research in driving profitable innovation. However, there are key continuities between the two periods. The neoliberal era laid the groundwork for today’s authoritarian turn by making public institutions increasingly reliant on federal funding, dismantling independent state planning boards, and deepening inequality within the higher education system.
LPE Originals

The Staying Power of the Antimonopoly Movement

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In the United States and elsewhere, the forces of monopoly, antitrust, and corporate power tend to follow a certain historical pattern, with long-term swings between strong anti-monopoly policies and pro-business policies. To anticipate the future of anti-monopoly politics, we need to understand the dynamic forces that drive these recurring large-scale shifts between monopoly and competition.
LPE Originals

The Same Script: Value-Based Payment, Managed Care, and Neoliberalism

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Though heralded as a policy innovation, value-based payment has not succeeded in lowering costs and has instead fueled corporate consolidation, as many physicians are ill-equipped to assume the financial risk that the payment model requires. Embodying the core tenets of neoliberalism, VBP is ultimately a failure of policymakers to equitably and efficiently administer a public health care program.
LPE Originals

Local Electricity and Bottom-up Energy Planning

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To build an electric system that meets the needs and opportunities of the 21st century, we need proposals that strengthen public control and improve regulation of Investor-Owned Utilities. Yet on their own, such proposals ignore a fundamental issue: almost all federal, state, municipal, and coop utilities currently operate with the same centralized, top-down planning and system control as Investor Owned Utilities. Unless that changes, public ownership will do little to remove the barriers that now largely block the evolution of decarbonized, resilient, and more equitable electric service.