The FTC announced this week perhaps its best decision since . . . well, ever:Â
Chairman Deborah Platt Majoras today announced the appointment of Professor Joshua Wright to the newly created position of Scholar-In-Residence in the Bureau of Competition of the Federal Trade Commission. With this new position, the Commission will invite an academic expert on the law and economics of antitrust to join the Commission to work closely with the Bureau of Competitionâ€™s investigative and policy staffs. The program will help ensure that the Commission has the benefit of the latest and best thinking on competition issues as it undertakes its enforcement agenda.
This is a great honor for Josh and a powerful affirmation of the exceptional quality of his scholarship.Â Moreover, it can only be good for the rest of us:Â Josh is the youthful embodiment of the UCLA School (e.g., Armen Alchian, Harold Demsetz and Ben Klein (also collectively known as Josh’s dissertation committee)), a school of thought whose continued influence in antitrust policyÂ brings both incomparable analysis andÂ much-needed humilityÂ to bear on the regulatory enterprise.