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TOTM Here is Justin Wolfers discussing what Paul Krugman has called “equilibrium decadence” in the context of the current macro debate… Read the full piece here.
Here is Justin Wolfers discussing what Paul Krugman has called “equilibrium decadence” in the context of the current macro debate…
Read the full piece here.
TOTM As TOTM readers are likely to know, the Supreme Court denied certiorari in Rambus, a course of action I had argued was the appropriate response . . .
As TOTM readers are likely to know, the Supreme Court denied certiorari in Rambus, a course of action I had argued was the appropriate response to the arguments set forth in the Commission petition. I recently expanded the blog post into a short essay which I’ve posted on SSRN. It will also be available in a few weeks at Global Competition Policy.
TOTM Here’s the press release. Congratulations to Chairman-to-be Leibowitz. I also note that this marks the end of Chairman’s Kovacic’s reign at the Commission. On a . . .
Here’s the press release. Congratulations to Chairman-to-be Leibowitz.
I also note that this marks the end of Chairman’s Kovacic’s reign at the Commission. On a personal note, I had the pleasure of working for the Chairman during my stint as the FTC Scholar in Residence and consider myself extremely fortunate to have had the opportunity.
TOTM An anonymous reader reminds me of the FTC Statement from Commissioners Harbour, Leibowitz and Rosch (but not Chairman Kovacic, who was recused) making the case . . .
An anonymous reader reminds me of the FTC Statement from Commissioners Harbour, Leibowitz and Rosch (but not Chairman Kovacic, who was recused) making the case against certiorari in Linkline…
TOTM The opinion is available here. Yet another super-majority Roberts Court antitrust decision applying consensus economic theory. No more price squeeze claims. Alcoa is not overturned. . . .
The opinion is available here. Yet another super-majority Roberts Court antitrust decision applying consensus economic theory. No more price squeeze claims. Alcoa is not overturned. The Court declares that the price-squeeze claim in the absence of a duty to deal can be handled jointly by a straightforward application of Trinko and Brooke Group to the wholesale and retail prices at issue, respectively. There is also an extended discussion of the common pitfalls of the application of antitrust as price regulation.
TOTM I want to second Josh’s commendation of Ben Klein’s submission to the recent FTC Hearings on Resale Price Maintenance. Klein’s paper, which bears the same . . .
I want to second Josh’s commendation of Ben Klein’s submission to the recent FTC Hearings on Resale Price Maintenance. Klein’s paper, which bears the same title as this post, is lucidly written (blissfully free of equations, Greek letters, etc.) and makes a point that, at this juncture in antitrust’s history, is absolutely crucial.
TOTM Predicting what antitrust enforcement regimes in the current economic environment is a tricky business. I’ve done my best here. One probably cannot think of a . . .
Predicting what antitrust enforcement regimes in the current economic environment is a tricky business. I’ve done my best here. One probably cannot think of a better source for such predictions than those from the soon-to-be AAG Christine Varney, who recently spoke at an American Antitrust Institute panel on Section 2 enforcement (you can hear the panel audio at the link). I had an RA transcribe Varney’s remarks so please note that all remarks attributed as quotations here may not be exact.
TOTM George Bittlingmayer (University of Kansas) and my colleague Tom Hazlett look at the market response to the stimulus and find it none too enthusiastic… Read . . .
George Bittlingmayer (University of Kansas) and my colleague Tom Hazlett look at the market response to the stimulus and find it none too enthusiastic…
Popular Media So, let me get this straight. We’re in a major recession triggered by a collapse in the housing market, itself the inevitable result of government . . .
So, let me get this straight. We’re in a major recession triggered by a collapse in the housing market, itself the inevitable result of government policies, led by Fannie Mae and Freddie Mac, to get the wrong loans to the wrong people so they could buy the wrong houses. The Obama Administration’s remedy is not to let Fannie and Freddie die a long-overdue and merciful death, but to prop them up, to give them additional powers, and to subsidize private mortgage lenders who extend yet more credit to more borrowers who can’t pay it back, thus making what might have been a temporary misallocation of the housing stock into a permanent one. Brilliant!
