My GMU colleague Todd Zywicki and Gail Heriot (USD) have an op-ed in the Washington Times exposing Harvard Professors David Himmelstein and Elizabeth Warren’s study on medical debt and bankruptcy, presented to Congress earlier this week, as “one of the most misleading pieces of research ever placed before Congress” – no small dishonor.

Read the full piece here. 

To no one’s great surprise (other than that it took so long), the European Commission issued a Statement of Objections against Intel today.  More information as it becomes available.

For those looking for a little insight into the case, you might be interested in The FTC’s 1998 Complaint against Intel and the resulting Consent Decree (the entire case file is here).

Read the full piece here.  

Over the past few weeks I’ve read at least two dozen papers, mostly by legal scholars (but some by economists) employing or critiquing economic analysis of law, that use the term “Chicago School,” in a critical and misleading way.  Conventionally, use of this nomenclature comes along with a claim that “Chicago School” economics is code for a particular form of non-interventionist, politically conservative philosophy based upon only an unjustified “faith” in markets.

Read the full piece here. 

Available here. Here are a few of the key findings of the study which examined the use of credit-based scores to determine automobile insurance rates…

Read the full piece here.

In my last post I claimed that there is a no “free market economics orthodoxy” amongst antitrust economists or those working in the field of law and economics. In response to the post, an anonymous TOTM reader emails the following related, and probably more interesting, questions: “is there a free market orthodoxy amongst (1) legal commentators and (2) the Supreme Court?”

Read the full piece here. 

There are some good posts from several fine economists in the blogosphere responding to this NY Times article suggesting that the majority of economists are “free market” ideologues and those who dissent from laissez-faire dogma are sanctioned by their peers. All are excellent posts worth reading in their entirety and take on various problems with the NY Times caricature of the economics profession.

Read the full piece here.

In shocking news, the American Antitrust Institute has come out with a white paper suggesting that the FTC’s challenge of the Whole Foods/Wild Oats merger is warranted…

Read the full piece here.

Thom’s excellent post covers most of the important points in Leegin and offers a fairly comprehensive critique of what I deemed to be a surprisingly weak dissent from Justice Breyer. As we’ve noted over and over here at TOTM, the death of Dr. Miles is clearly the right outcome judged based upon the underlying antitrust fundamentals. As Thom and I have pointed out in various posts on RPM here at TOTM, the evidence overwhelmingly suggests that anticompetitive RPM is much talked about but rarely observed or documented. Given that the bulk of the contemporary evidence on RPM suggests that it is largely pro-competitive, I must admit that I was surprised by Tyler Cowen’s “casual guess” in a post at the VC that >50% of RPM are associated with attempts to collude.

Read the full piece here. 

So Dr. Miles is dead. May he rest in peace.

No great surprises in the majority opinion in Leegin. Justice Kennedy, quite rightly, emphasized points we have asserted numerous times on this blog. Most notably…

Read the full piece here.