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FTC/ DOJ Section 2 Hearings Continue

TOTM The FTC/ DOJ Section 2 Hearings (aka Hearings on Section 2 of the Sherman Act: Single Firm Conduct as Related to Competition) continued earlier this . . .

The FTC/ DOJ Section 2 Hearings (aka Hearings on Section 2 of the Sherman Act: Single Firm Conduct as Related to Competition) continued earlier this week with a session on tying Wednesday featuring David Evans, Robin Cooper Feldman, Mark Popofsky, Donald Russell, Michael Waldman, and Robert Willig.

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Antitrust & Consumer Protection

The FTC’s Noerr-Pennington Report

TOTM David Fischer (Antitrust Review) beat me to the punch announcing the FTC’s release of its staff report from the Bureau of Competition and Office of . . .

David Fischer (Antitrust Review) beat me to the punch announcing the FTC’s release of its staff report from the Bureau of Competition and Office of Policy & Planning on the Noerr-Pennington doctrine, which immunizes private actors urging government action from antitrust enforcement. The full text of the report is available here. This should prove to be an important document.

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Antitrust & Consumer Protection

Isn’t Competition Grand?: Wal-Mart, Drugs, and Antitrust

TOTM Fred Tung highlights Wal-Mart’s new strategy of selling a month’s supply of 300 different generics for $4, noting that Target will match Wal-Mart’s prices but . . .

Fred Tung highlights Wal-Mart’s new strategy of selling a month’s supply of 300 different generics for $4, noting that Target will match Wal-Mart’s prices but Walgreens and CVS will not. Isn’t competition grand? Well, not everyone is convinced that low prices for consumers is a good thing.

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Antitrust & Consumer Protection

Familiar Rantings at the Washington Post

TOTM In January, Washington, D.C. will join the nearly 500 cities nationwide that have thwarted the free market’s accommodation of heterogeneous preferences and have ordered private . . .

In January, Washington, D.C. will join the nearly 500 cities nationwide that have thwarted the free market’s accommodation of heterogeneous preferences and have ordered private property owners to forbid their invitees from engaging in otherwise legal behavior. I am speaking, of course, of Washington’s forthcoming smoking ban.

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Bainbridge Rebrands

TOTM Prof. Bainbridge has announced that it is time to shift from a general interest, punditry-style blog to a more narrow focus on issues of business . . .

Prof. Bainbridge has announced that it is time to shift from a general interest, punditry-style blog to a more narrow focus on issues of business law and economics…

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Wal-Mart: Alleviating Poverty Abroad, Lowering Prices at Home

TOTM Those of us who defend the right to outsource are frequently criticized for lacking compassion and for being concerned only with the bottom line. I’ll . . .

Those of us who defend the right to outsource are frequently criticized for lacking compassion and for being concerned only with the bottom line. I’ll admit that profitability concerns generally motivate decisions to outsource (and most other business decisions), but I won’t concede that outsourcing imposes a net harm on the economically disadvantaged. If we’re really concerned with alleviating the worst instances of poverty and are not focused only on protecting our own kind, we should support the right to outsource.

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Google, Net Neutrality, and Antitrust

TOTM Hanno Kaiser at Antitrust Review discusses the implications of Google’s acquisition of YouTube for the net neutrality debate. Hanno opines that the deal may increase . . .

Hanno Kaiser at Antitrust Review discusses the implications of Google’s acquisition of YouTube for the net neutrality debate. Hanno opines that the deal may increase the likelihood of a neutrality result even without legislation. While Google’s public pro-neutrality stance is well known, GMU’s Tom Hazlett (my office neighbor and fellow UCLA Economics alum) has a great column in the Financial Times highlighting the difference between Google’s “public policy” stance on net neutrality and its business model. Here’s Hazlett on Google’s now well-known position on net neutrality legislation…

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Antitrust & Consumer Protection

Conservatives and the Regulation of Higher Education

TOTM Classical liberals have long derided their conservative cousins for being fairweather friends of small government, but the criticism has been fairly limited. In general, conservatives . . .

Classical liberals have long derided their conservative cousins for being fairweather friends of small government, but the criticism has been fairly limited. In general, conservatives have embraced limited government on matters of economic regulation and have endorsed governmental meddling only on matters involving so-called “values” issues like broadcast decency and homosexuality. Lately, though, conservatives seem ever more willing to embrace big government on matters that seem more economic than values-oriented.

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Nobel Speculation and Some Very Casual Empiricism

TOTM With the Econ Nobel (or for those who feel better using the official label, the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred . . .

With the Econ Nobel (or for those who feel better using the official label, the “Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel” … ) to be announced on Monday, the time is ripe for speculation. Greg Mankiw, Don Boudreaux, the WSJ, and Tyler Cowen have chimed in on the frontrunners. Cowen predicts Eugene Fama and Richard Thaler for empirical finance while registering his own vote in favor of GMU’s Gordon Tullock (seconded by Boudreaux).

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