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Suppose you get a $1,000 payment. How much do you spend? Before answering, we’d want to know a few things: Is this a one-time payment? The first of many? Can you borrow? Do you already have savings? This year’s Nobel Prize in economics went to Robert Hall and Michael Woodford for providing the theory to … A Nobel Prize for Thinking Ahead: Hall and Woodford’s Great Expectations
Everyone wants the next medical breakthrough. Few want the bill. The United States pays a disproportionate share of the cost of pharmaceutical innovation, while other wealthy countries hold down medicine prices and count on the research to keep coming. Yet much of the U.S. policy debate proposes copying their approach: because Americans frequently pay more … The World Wants Cures. America Gets the Check.
The Federal Trade Commission (FTC) has settled a wine-and-spirits case, and its press release reads like a victory toast. The two commissioners who approved the deal write as if they’d rather send the bottle back. Consumers might want to check the tab. The settlement in Southern Glazer’s Wine and Spirits landed just after I’d put … Antitrust at the Agencies: Pour One Out for Southern Glazer’s
