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Showing 4 of 211 Results in Consumer Protection
Popular Media In Alchian and Demsetz’s (1972) nexus-of-contracts approach to the firm, bosses don’t necessarily hire workers; workers may just as easily hire bosses. Recall Cheung’s (1983, p. 8) famous illustration: . . .
In Alchian and Demsetz’s (1972) nexus-of-contracts approach to the firm, bosses don’t necessarily hire workers; workers may just as easily hire bosses. Recall Cheung’s (1983, p. 8) famous illustration: “My own favorite example is riverboat pulling in China before the communist regime, when a large group of workers marched along the shore towing a good-sized wooden boat. The unique interest of this example is that the collaborators actually agreed to the hiring of a monitor to whip them.” In Alchian and Demsetz’s example, the employee can “fire” his employer by quitting, just as I can “fire” my grocer by shopping at a different store.
Read the full piece here.
TOTM Chairman Kovacic has posted a paper announcing a major self-assessment initiative at the FTC: The FTC at 100: Into our Second Century. Here is the . . .
Chairman Kovacic has posted a paper announcing a major self-assessment initiative at the FTC: The FTC at 100: Into our Second Century. Here is the opening paragraph…
TOTM After a year long investigation, Michael Giberson (of the excellent Knowledge Problem) points to the DC Attorney General’s announcement that a single retailer has agreed . . .
After a year long investigation, Michael Giberson (of the excellent Knowledge Problem) points to the DC Attorney General’s announcement that a single retailer has agreed to pay a fine of $897.61 without admitting any wrongdoing. Yes, 900 bucks.
TOTM Economist Michael Salinger, Director of the Federal Trade Commission’s Bureau of Economics for the past year, comments on the recent FTC Report and price gouging . . .
Economist Michael Salinger, Director of the Federal Trade Commission’s Bureau of Economics for the past year, comments on the recent FTC Report and price gouging in Sunday’s WSJ (HT: Greg Mankiw). I have blogged a bit about the FTC Report previously: once about its findings (that “market manipulation” did not explain post-Katrina price increases), once about media reactions to the Report, and again criticizing the ill-advised proposed federal price gouging legislation.
