Showing 2 Publications

Lovers of Internal Combustion Engines Should Perhaps Be Nervous

Popular Media Teaching the economics of innovation to college students isn’t a tough job. They understand intuitively that pro-competitive policy maximizes their ability to choose the best . . .

Teaching the economics of innovation to college students isn’t a tough job. They understand intuitively that pro-competitive policy maximizes their ability to choose the best product for them. More options for consumers leads to opportunities to optimize their choices. If the cost of one option is too high, for whatever reason, consumers can choose something else.

Read the full piece here.

Continue reading
Innovation & the New Economy

Effects of gene editing on ag-biotech antitrust

TOTM Commenting on Microsoft’s antitrust suit 18 years ago, Milton Friedman said the following: Your industry, the computer industry, moves so much more rapidly than the legal . . .

Commenting on Microsoft’s antitrust suit 18 years ago, Milton Friedman said the following:

Your industry, the computer industry, moves so much more rapidly than the legal process, that by the time this suit is over, who knows what the shape of the industry will be.

Though the legal process seems to be moving quickly in the cases of Dow/Dupont, ChemChina/Syngenta, and Bayer/Monsanto, seed technology is moving fast as well. With recent breakthroughs in gene editing, seed technology will be more dynamic, cheaper, and likely subject to far less regulation than the current transgenic technology.

Read the full piece here.

Continue reading
Antitrust & Consumer Protection