Showing results for: “digital markets act”
First Microsoft, Now Google: Berin Szoka, Josh Wright and Geoff Manne in CNET
Josh, Berin Szoka and I have a new op-ed up at CNET on why the lessons of Microsoft suggest the FTC’s action against Google might be misguided. A taste: Ten years ago this week, an appeals court upheld Microsoft’s conviction for monopolizing the PC operating system market. The decision became a key legal precedent for U.S. antitrust ... First Microsoft, Now Google: Berin Szoka, Josh Wright and Geoff Manne in CNET
Epstein on Obama at U of C
It’s pretty hard to cycle through the University of Chicago Law School (or at least it used to be back when I was a student) without gaining an appreciation for the extent to which markets, while subject to occasional failures, enhance human welfare by channeling resources to their highest and best ends. It’s also hard ... Epstein on Obama at U of C
Don't kill interchange fees
Speaking of Josh’s co-author, David Evans, David just testified the other day before the House Financial Services Committee on a bill, the Welch Bill, HR 2382, that would regulate the fees banks charge to each other to process credit card payments. The Welch Bill is actually only one of three pending bills that would regulate ... Don't kill interchange fees
Larry Ribstein on After the Fall (Of Regulation)
My previous post in this symposium argued that deregulation is upon us. Here I’ll discuss what that could entail. The legal information expert: I summoned up the specter of computers practicing law. There is in fact no doubt that computers can practice law as that term is defined by some courts and regulators: giving personalized ... Larry Ribstein on After the Fall (Of Regulation)
The SEC’s revolving door
I discussed last year the peculiarities of the SEC’s complaint against Goldman arising out of the infamous Abacus transaction. One peculiarity is how John Paulson, whose undisclosed role in structuring the transaction led to the charges against Goldman, has escaped blame. Today Andrew Ross Sorkin sheds some light on why that might be: a senior ... The SEC’s revolving door
Appropriate humility from Verizon over corporations’ role in stopping NSA surveillance
Like most libertarians I’m concerned about government abuse of power. Certainly the secrecy and seeming reach of the NSA’s information gathering programs is worrying. But we can’t and shouldn’t pretend like there are no countervailing concerns (as Gordon Crovitz points out). And we certainly shouldn’t allow the fervent ire of the most radical voices — ... Appropriate humility from Verizon over corporations’ role in stopping NSA surveillance
Credit card annual fees and the self-appointed consumer protectors
Adam Levitin has a blog post up responding to Todd Zywicki’s recent WSJ editorial on credit card interchange fees. As most readers know, this is a topic of significant interest around here, and Josh blogged about Todd’s op-ed just yesterday. I’m on vacation so I’ll be brief, but I thought Adam’s post was so wrong ... Credit card annual fees and the self-appointed consumer protectors
What caused the crisis?
Writing in the Wall Street Journal, Alan Greenspan, who was at the helm of the Fed during the relevant time period, tells us (surprise!) it wasn’t the Fed’s fault. Greenspan notes that short-term interest rates, which the Fed controls, are only loosely correlated with long-term interest rates, which are most relevant to real estate investing ... What caused the crisis?
China land and bachelors
The New York Times has an interesting story about land markets in China. In order to get married a man needs to own property and land prices are very high in China. As it its habit, the Times blames “overeager developers who force residents out of old neighborhoods.” In fact, the Times gets it backwards. ... China land and bachelors
What’s Missing from Tyler’s IO Reading List
Tyler Cowen has posted the reading list for his 2010 Industrial Organization class in the George Mason economics department. He asks for recommendations. Below the fold are my suggestions to supplement Section I or II of Cowen’s reading list. The first order of business is getting Coase, Klein, Crawford Alchian (1978), Alchian and Demsetz (1972) ... What’s Missing from Tyler’s IO Reading List
Capitalism is Good
A friendly reminder from Becker and Murphy: Consider the following extraordinary statistics about the performance of the world economy since 1980. World real gross domestic product grew by about 145 per cent from 1980 to 2007, or by an average of roughly 3.4 per cent a year. The so-called capitalist greed that motivated business people ... Capitalism is Good
Josh Wright and the Limits of Antitrust
Alden Abbott and I recently co-authored an article, forthcoming in the Journal of Competition Law and Economics, in which we examined the degree to which the Supreme Court and the federal enforcement agencies have recognized the inherent limits of antitrust law. We concluded that the Roberts Court has admirably acknowledged those limits and has for ... Josh Wright and the Limits of Antitrust
