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TOTM 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 . . .
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.
TOTM 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 . . .
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.
TOTM 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 . . .
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…
TOTM 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 . . .
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.
TOTM 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 . . .
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…
TOTM Well we’re coming down to the wire, folks. The Supreme Court is wrapping up its term any day now, and no still no word on . . .
Well we’re coming down to the wire, folks. The Supreme Court is wrapping up its term any day now, and no still no word on Leegin. Tom Goldstein from SCOTUSBLOG tells us the decision’s coming on Thursday. He also predicts that the author will be Justice Stevens, who has an antitrust background and hasn’t written an opinion since March.
TOTM John Mackey posts a remarkable public response to the FTC, including the complete text and extended exegesis of one of the inflammatory hot docs that . . .
John Mackey posts a remarkable public response to the FTC, including the complete text and extended exegesis of one of the inflammatory hot docs that prompted the FTC’s action. But most amazing of all is this comment…
TOTM In Monday’s Credit Suisse v. Billing decision, the Supreme Court held that the federal securities laws implicitly precluded the application of antitrust law to the . . .
In Monday’s Credit Suisse v. Billing decision, the Supreme Court held that the federal securities laws implicitly precluded the application of antitrust law to the defendants’ alleged misconduct. The plaintiffs, buyers of newly issued securities, had accused the defendants, underwriting firms that had collectively marketed and distributed those securities, of violating Section 1 of the Sherman Act by agreeing to sell the securities only on the condition that buyers engage in various other transactions. The underwriter defendants sought dismissal of the complaint on grounds that the federal securities laws impliedly preclude application of the antitrust laws to the conduct in question.
TOTM As Manfred reports over at the Antitrust Review, the judge has unsealed the FTC’s complaint against Whole Foods. This unredacted version reveals an unhealthy reliance . . .
As Manfred reports over at the Antitrust Review, the judge has unsealed the FTC’s complaint against Whole Foods. This unredacted version reveals an unhealthy reliance on hot docs by the FTC’s staff. I won’t belabor the point. But when you’re looking at marketing materials and reports to the board to identify anticompetitive intent (hmmm. I didn’t know intent was relevant in merger cases . . . .) through “fighting words” and “smoking guns,” you’re barking up the wrong tree. It is little or no evidence of likely anticompetitive effect that Whole Food’s outspoken CEO claims that purchasing Wild Oats will remove “forever or almost forever” the threat to Whole Food’s market.
