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Thoughts on the Economics of Lawyer Licensing

TOTM Larry Ribstein and Jonathan Wilson have an interesting exchange going regarding the merits of lawyer licensing. Larry actually has several posts on the subject (see, . . .

Larry Ribstein and Jonathan Wilson have an interesting exchange going regarding the merits of lawyer licensing. Larry actually has several posts on the subject (see, e.g., here, here, and a paper here). WSJ Law Blog has picked up the exchange, and offers a poll which asks the question: “Is Lawyer Licensing Necessary?” (Perhaps unsurprisingly for a poll in which a large proportion of voters are most likely lawyers, 60% are in favor of licensing.)

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Antitrust & Consumer Protection

GMU/ Mercatus Symposium: Anticompetitive Barriers to E-Commerce

TOTM GMU Law and the Mercatus Center are jointly presenting a symposium on “Anticompetitive Barriers to E-Commerce,” Wednesday, May 24th from 8 am to 5pm. The . . .

GMU Law and the Mercatus Center are jointly presenting a symposium on “Anticompetitive Barriers to E-Commerce,” Wednesday, May 24th from 8 am to 5pm. The symposium announcement is here. The agenda is here.

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Intellectual Property & Licensing

The Froth Is Back

TOTM Today’s WSJ reports that professional stock analysts employed by brokerage firms are up to their old sunny ways. These “sell-side” analysts came under fire in . . .

Today’s WSJ reports that professional stock analysts employed by brokerage firms are up to their old sunny ways. These “sell-side” analysts came under fire in 2002 for rendering falsely optimistic trading recommendations. Congressional hearings revealed that during the late 1990s, analysts’ “buy” recommendations outnumbered “sell” recommendations by nearly 100 to one.

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Financial Regulation & Corporate Governance

Want to Boost Domestic Oil Production? Give ANWR to the Greens.

TOTM There have been some pretty stupid ideas floating around about how to deal with this purported gasoline crisis we’re experiencing. (See, e.g., here.) Here’s one . . .

There have been some pretty stupid ideas floating around about how to deal with this purported gasoline crisis we’re experiencing. (See, e.g., here.) Here’s one that might sound crazy at first, but is, I submit, crazy like a fox.

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Innovation & the New Economy

Antitrust Souvenirs?

TOTM From the Antitrust Hotch Potch, a quote from a Microsoft antitrust lawyer referencing the fact that the stripped version of Windows (without the Media Player . . .

From the Antitrust Hotch Potch, a quote from a Microsoft antitrust lawyer referencing the fact that the stripped version of Windows (without the Media Player monopolistically integrated and forced upon consumers to their detriment … ) is being ordered by stores slightly less frequently than the “full” version of Windows, i.e. 1,787 copies versus 35 million.

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Antitrust & Consumer Protection

More on the SEC’s Antiquated Disclosure Rules for Oil Reserves

TOTM Back in February, I criticized the SEC’s rules regarding how energy companies must disclose their oil reserves in securities filings. My main point was that . . .

Back in February, I criticized the SEC’s rules regarding how energy companies must disclose their oil reserves in securities filings. My main point was that the conservative way the SEC measures reserves is quite different from the measurement approach the oil companies themselves take when deciding how to invest billions of their own dollars.

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Financial Regulation & Corporate Governance

Case Studies & Empirical Scholarship

TOTM I am heading to Harvard tomorrow for a conference, hosted by the Harvard Negotiation Law Review, on the value of case studies and the role . . .

I am heading to Harvard tomorrow for a conference, hosted by the Harvard Negotiation Law Review, on the value of case studies and the role of lawyers in deal making. Vic at the Glom has blogged about the conference here. The conference is organized around Vic Fleischer’s case study on the MasterCard IPO, and David Millstone & Guhan Subramanian’s study of the Oracle/Peoplesoft takeover bid

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Antitrust & Consumer Protection

Dirty Coal’s Rent-Seeking Pays Off

TOTM Today’s Heard on the Street column in the W$J reports that utilities are moving away from low-sulfur coal in favor of the dirtier, high-sulfur variety. . . .

Today’s Heard on the Street column in the W$J reports that utilities are moving away from low-sulfur coal in favor of the dirtier, high-sulfur variety. This might seem odd, given that the Clean Air Act operates on sort of a “ratchet” principle — i.e., when air quality improves, degradation is generally forbidden. One might expect that, absent some change in relative prices, the trend would always be toward cleaner-burning fuels.

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Innovation & the New Economy

Bernstein on the Law Deans, Tenure, and the ABA

TOTM My colleague David Bernstein at VC points out this article in Inside Higher Ed by Doug Lederman discussing the American Law Deans Association’s criticisms of . . .

My colleague David Bernstein at VC points out this article in Inside Higher Ed by Doug Lederman discussing the American Law Deans Association’s criticisms of the ABA’s imposition of requirements that go well beyond “assuring the quality of legal education.”

Read the full piece here.

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