Showing Latest Publications

On disclosure: Shame?

TOTM Daniel Akst in the NYT has an interesting piece on executive compensation and disclosure (HT: Tyler Cowen). He calls for more shame — more reliance . . .

Daniel Akst in the NYT has an interesting piece on executive compensation and disclosure (HT: Tyler Cowen). He calls for more shame — more reliance on norms to manage intractable agency problems…

Read the full piece here

Continue reading
Financial Regulation & Corporate Governance

Universities redux: The anti-market folks begin to crow

TOTM Last week I made a few observations and asked a few questions about higher education in the wake of the Summers fiasco (which I dubbed . . .

Last week I made a few observations and asked a few questions about higher education in the wake of the Summers fiasco (which I dubbed l’Affair Étés, but apparently no one thought that was nearly as clever as I did).

Read the full piece here

Continue reading

Hanno Kaiser’s antitrust primer

TOTM While we’re on the topic of antitrust, I thought I would take this opportunity to draw our readers’ attention to a nice series of posts . . .

While we’re on the topic of antitrust, I thought I would take this opportunity to draw our readers’ attention to a nice series of posts over at Antitrust Review. Collectively these posts make up the beginnings of an excellent primer on antitrust economics, told in Hanno Kaiser’s inimitable manner. I don’t agree with all of it, but all of it is thoughtful and well-taken. Well worth a read in your spare time.

Read the full piece here.

Continue reading
Antitrust & Consumer Protection

Good antitrust news from the Court

TOTM To almost no one’s surprise, the Court ruled today (unanimously) in Texaco v Dagher that a pricing agreement between Shell and Texaco which was part . . .

To almost no one’s surprise, the Court ruled today (unanimously) in Texaco v Dagher that a pricing agreement between Shell and Texaco which was part of a lawful joint venure is not per se illegal under the Sherman Act. See this Reuter’s story here (HT: Bill).

Read the full piece here.

Continue reading
Antitrust & Consumer Protection

The Ethicist strikes again

TOTM One of my students brought to my attention this pearl of wisdom from (what appears to be this week’s forthcoming) The Ethicist column in the . . .

One of my students brought to my attention this pearl of wisdom from (what appears to be this week’s forthcoming) The Ethicist column in the NYT…

Read the full piece here.

Continue reading
Innovation & the New Economy

Whose university is it?

TOTM There’s been some recent (and widely disparate) posting on the nature and governance of universities. See, for example, here (Tsai on sports and higher ed), . . .

There’s been some recent (and widely disparate) posting on the nature and governance of universities. See, for example, here (Tsai on sports and higher ed), here (Oesterle on endowment spending), here (Bollier on the knowledge commons; see especially comments by me and Josh in the . . . comments section (duh)), here (Posner on tenure), here (Becker on tenure), and here (me on the education market of the future). More recently Becker and Posner wade back in with posts on for-profit universities.

Read the full piece here.

Continue reading

Measure 37 Upheld

TOTM You may or may not know that Oregon’s Measure 37 — our anti-takings measure — was ruled unconstitutional last year by a state trial court. . . .

You may or may not know that Oregon’s Measure 37 — our anti-takings measure — was ruled unconstitutional last year by a state trial court. See this post by Todd Zywicki. But today the Oregon Supreme Court reversed, and handed the effort to quash Measure 37 a resounding defeat. The court’s holding, on each of the claims raised…

Read the full piece here.

Continue reading

On disclosure: Hands-tying

TOTM Dale Oesterle has called Gretchen Morgenson a “national treasure.” Today Larry Ribstein exposes the treasure for fool’s gold. I’m with Larry on this one. Morgenson’s . . .

Dale Oesterle has called Gretchen Morgenson a “national treasure.” Today Larry Ribstein exposes the treasure for fool’s gold. I’m with Larry on this one.

Morgenson’s article on executive compensation is yellow journalism at its worst (well, at least a far as business journalism goes. And really — what else is there?).

Read the full piece here.

Continue reading
Financial Regulation & Corporate Governance

Donaldson & Pitt & Levitt & Breeden (Oh my!)

TOTM The Council on Foreign Relations puts on some really impressive webcasts/conference calls. Here’s one TOTM readers may be especially interested in (if, that is, you’re . . .

The Council on Foreign Relations puts on some really impressive webcasts/conference calls. Here’s one TOTM readers may be especially interested in (if, that is, you’re one of those lucky people who doesn’t get hives listening to extended bouts of highly-politicized self rationalization)…

Read the full piece here.

Continue reading
Financial Regulation & Corporate Governance