Key Highlights
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A new analysis of the Atlantic slave trade shows its average profitability was not exceptionally high, around 11–14% for multi-year voyages, and was lower than other investment opportunities of the time. This finding challenges the long-held idea that the slave trade was a uniquely profitable engine for Europe’s economic growth.
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When the same big investors own shares in competing drug companies, it reduces the chance that cheaper generic drugs will enter the market. This suggests that common ownership can stifle competition, potentially leading to higher drug prices for consumers.
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In Africa, presidential elections tend to lower the effective tax rates on gold mining, especially when an incumbent is running for re-election. This indicates that politicians may cut taxes to secure campaign support from mining interests, which can reduce public revenue from natural resources.
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Some local governments in the U.S. appear to strategically shut down air pollution monitors on days when poor air quality is forecasted, hiding potential violations. This finding reveals a critical weakness in environmental self-monitoring systems and highlights the need for independent oversight.
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