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Tomorrow I will be presenting my paper, A Decision-Theoretic Rule of Reason for Minimum Resale Price Maintenance, at the Next Generation of Antitrust Scholarship Conference at NYU Law School. (Kudos to Danny Sokol for co-organizing what promises to be a terrific event!) My paper criticizes four proposed approaches to evaluating RPM post-Leegin, and it sets ... Varney Gets It Right on RPM
From a library bookshelf in Kiev, Ukraine:
Today the SEC voted 3-2 to approve an interpretive release offering guidance to companies on disclosure obligations as they relate to climate change. Commissioners Casey and Paredes voted to reject the proposed guidance. Everyone can agree that companies may have an obligation under Regulation S-K to disclose risks arising from, among other many things, climate ... The SEC gets that old time climate religion. Hallelujah, praise Gore.
Oregonians, my fellow residents of the Beaver State (and, by the way, the only state in the Union with a different image on each side of its flag), voted yesterday to increase top marginal income tax rates and corporate tax rates, including minimum corporate tax rates and the addition of a tax on gross receipts. ... Finally, some real help for California!
Yesterday the final Horizontal Merger Guidelines Review workshop was held and, among other antitrust luminaries, our own Josh Wright participated. We look forward to a report from the front lines. Meanwhile, Assistant Attorney General Varney’s comments are available on the interwebs. Overall her remarks seem uncontroversial, especially following on the heels of the agency’s (surprising?) ... Varney on the Merger Guidelines
A new Russian retail trade law is scheduled to (at least partially) go into effect on February 1st. The new retail trade law, with the support of the national antitrust authority and Prime Minister Putin amongst others, has three essential features: (1) limiting the operation of chains to no more than 25 percent of total ... Russian Retail Trade Law and Government Barriers to Entry
Here are the details on the conditions imposed: Under the conditions set forth by the Justice Department, the merged company would need to sell off a unit that sells tickets to college sporting events, and would need to license its ticketing software to rival concert promoter AEG Live, so that company can launch a competing ... Ticketmaster-Live Nation Settles
Russ Roberts’ brilliant and eagerly-awaited Keynes vs. Hayek rap video is here. It’s the best economics pop music since Merle Hazzard. Here are the lyrics: We’ve been going back and forth for a century [Keynes] I want to steer markets, [Hayek] I want them set free There’s a boom and bust cycle and good reason ... "In the long run, my friend, it's your theory that's dead"
Simon Johnson is at it again, advocating the use of antitrust to break up the banks because they are, you know, big, and antitrust is about busting up big companies, right? As Josh suggested back in July, the idea is gaining momentum, it seems. The Financial Times is also pushing the idea. What’s remarkable about ... Note to Simon Johnson: I do not think antitrust means what you think it means
As regular readers know, we’ve been following with (critical) interest the antitrust issues surrounding the seed industry in general and Monsanto in particular. See, for example posts by me or Mike here, here and here. As you may not know, Monsanto and Pioneer (a DuPont subsidiary) have been engaged in a heated contract and patent ... Monsanto's licensing case victory
Jim Van Dyke (who contributed to our interchange symposium) has an interesting post up today recounting a brief glimpse of life without payment cards: What would a day without payment cards be like? I had a glimpse into that just this morning, when my usual Bay Area morning routine of using my prepaid card to ... The problem with paper payments
Gretchen Morgenson doesn’t want poor people to have access to consumer credit. At least, that’s what I think she’s saying in her rambling NYT column this week. Congress and federal regulators have recently taken a number of actions that will make it tougher for riskier customers to access consumer credit. First there was the Credit ... Gretchen Morgenson Calls for Greater Protection (?) of High-Risk Consumers of Credit