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Popular Media Over and over during the last week we’ve been told that unless Congress, the Treasury, and the Fed take “bold action,” credit markets will freeze, . . .
Over and over during the last week we’ve been told that unless Congress, the Treasury, and the Fed take “bold action,” credit markets will freeze, equity values will plummet, small businesses and homeowners will be wiped out, and, ultimately, the entire economy will crash. Such pronouncements are issued boldly, with a sort of Gnostic certainty, a little sadness for dramatic effect, and only minor caveats and qualifications.
Read the full piece here.
TOTM In a series of posts (Part I, Part II and Part III), I’ve sketched out how the trend toward increasing detachment in L&E scholarship might . . .
In a series of posts (Part I, Part II and Part III), I’ve sketched out how the trend toward increasing detachment in L&E scholarship might reduce the influence of the L&E movement at the retail level and become its ultimate undoing. I must say, writing this series has been a lot of fun but has also been a bit depressing as somebody with more than a theoretical stake in the future of L&E in law schools, and more importantly, somebody who views the “retail” success of L&E as critical to its growth.
TOTM From the NY Times: Federal regulators on Wednesday approved a rule that would ban exclusive agreements that cable television operators have with apartment buildings, opening . . .
From the NY Times:
Federal regulators on Wednesday approved a rule that would ban exclusive agreements that cable television operators have with apartment buildings, opening up competition for other video providers that could eventually lead to lower prices. The Federal Communications Commission unanimously approved the change, which Chairman Kevin Martin said would help lower cable rates for millions of subscribers who live in apartment buildings and other multi-unit dwellings, or about 25 million households. He said the move would particularly help minorities who disproportionately live in multi-unit dwellings.
Federal regulators on Wednesday approved a rule that would ban exclusive agreements that cable television operators have with apartment buildings, opening up competition for other video providers that could eventually lead to lower prices.
The Federal Communications Commission unanimously approved the change, which Chairman Kevin Martin said would help lower cable rates for millions of subscribers who live in apartment buildings and other multi-unit dwellings, or about 25 million households. He said the move would particularly help minorities who disproportionately live in multi-unit dwellings.
What is at issue here is the exclusive contracts between cable operators and the owners of “multiple dwelling units” (MDUs). From what I understand, the FCC order appears to prohibit the enforcement of both existing and new exclusive arrangements with MDUs as anticompetitive contracts. It is well known in the economics literature that exclusive contracts, and competition for access to consumers through the use of exclusives, can generate significant pro-competitive benefits.
TOTM My colleague Todd Zywicki offers an empirical rebuttal to the Warren-Tyagi “Two Income Trap” hypothesis which asserts that families with two incomes end up more . . .
My colleague Todd Zywicki offers an empirical rebuttal to the Warren-Tyagi “Two Income Trap” hypothesis which asserts that families with two incomes end up more leveraged than families with single incomes and more susceptible to negative economic shocks than otherwise for a number of reasons, including, e.g. counterproductive bidding for housing, child care expenses, etc.
TOTM Benjamin Barber (the author of the polemic, Jihad vs. McWorld) has an editorial in the LA Times today. Its title is: “Overselling capitalism: Why today’s . . .
Benjamin Barber (the author of the polemic, Jihad vs. McWorld) has an editorial in the LA Times today. Its title is: “Overselling capitalism: Why today’s markets are headed for disaster unless there is a shift in focus.” At first the editorial looks like a pretty standard entry in the growing line of comments suggesting we deny credit to the poor–you know, for their own good. But then it really goes off the rails.
TOTM Marginal Revolution’s Alex Tabarrok has a good post responding to recent attacks on the extension of credit to poor borrowers (and in particular, this rant . . .
Marginal Revolution’s Alex Tabarrok has a good post responding to recent attacks on the extension of credit to poor borrowers (and in particular, this rant from Nouriel Roubini).
TOTM The Internet (read: inexpensive information dissemination) comes to the notoriously informationally-challenged housing market. The WSJ reports on a new website, zillow.com, which, as the WSJ . . .
The Internet (read: inexpensive information dissemination) comes to the notoriously informationally-challenged housing market. The WSJ reports on a new website, zillow.com, which, as the WSJ says…
