Showing results for: “digital markets act”
Why oh why can't we have a better Paul Krugman?
Krugman’s latest opinion piece is here. Like me, Paul is beating the same drum over and over (oh, and by the way, like at DeLong’s place, my comments mysteriously don’t show up on his blog. Odd. I swear I am civil and engaged. I’m not sure why I am blacklisted. Could it be that I ... Why oh why can't we have a better Paul Krugman?
Another move to over-fiduciarize investing
The WSJ comments on a dumb proposal by the Employee Benefits Security Administration to broaden the definition of “fiduciary” to cover brokerage services with respect to retirement accounts. As the WSJ notes, For decades the finance industry has provided investors roughly two kinds of services: the “advisory” model, in which an investment professional makes trading ... Another move to over-fiduciarize investing
Come on Feel the Illinoise
Has everyone noticed that Illinois has been quietly amassing one of the most interesting law & economics/corporations faculties in the country? This year they hired Andrew Morriss, Christine Hurt, Amitai Aviram and Bob Lawless. They’ve already got: Lee Fennell Tom Ginbsburg David Hyman Richard McAdams Richard Painter Larry Ribstein Tom Ulen Cynthia Williams and probably ... Come on Feel the Illinoise
“Argentina’s government has filed criminal charges against the managers of an economic consulting firm, escalating its persecution of independent economists.”
Some context (HT: WSJ): The criminal complaint, initiated by the Commerce Secretariat, is the harshest in a series of legal measures against economists. The credibility of Indec’s data has been questioned ever since former President Nestor Kirchner replaced longtime civil servants with political appointees in early 2007. So far this year, the Secretariat has fined ... “Argentina’s government has filed criminal charges against the managers of an economic consulting firm, escalating its persecution of independent economists.”
Zywicki on Judicial Modification of Mortgage Contracts
Earlier this week, I argued that courts should resist the urge to modify what turn out to be improvident commercial contracts. An unintended consequence of rewriting such contracts, I asserted, is that negotiated agreements would become unreliable, which would raise the risks associated with, and thereby discourage, wealth-creating exchanges. And real wealth creation — not ... Zywicki on Judicial Modification of Mortgage Contracts
Trends in Protectionism
Here’s a troubling paragraph from Chad Bown’s WSJ op-ed: The count of newly imposed protectionist policies like antidumping duties and other “safeguard” measures increased by 31% in the first half of 2009 relative to the same period one year ago, which itself is not an alarming number. But many governments take more than a year ... Trends in Protectionism
Rizzo and Whitman on Paternalist Slopes
Libertarian paternalism, behavioral law and economics, and “soft” paternalism are topics of discussion here on TOTM from time to time (see, e.g. here, here, and here). Two very good economists who think about these problems quite a bit, Mario Rizzo (NYU) and Glen Whitman (Agoraphilia, CSUN), have posted their paper “Paternalist Slopes.” I had the ... Rizzo and Whitman on Paternalist Slopes
D.C. Auction Design Malpractice?
Zipcar apparently has been the exclusive user of the 84 or so parking spaces D.C. allocates to car-sharing companies until very recently when the District’s DOT put them up for auction: The city’s department of transportation offers what are now 84 curbside parking spaces to car-sharing companies, which had up until recently been all Zipcar’s. ... D.C. Auction Design Malpractice?
Testimony on HB 1902 Prohibiting "Pay for Delay" Settlements
David Fischer brings my attention to testimony on HB 1902 which would prohibit “payment for delay” settlements between brand name and generic drug companies. FTC Commissioner Leibowitz testified on the position of my new employer here. I also learned from reading Scott Hemphill’s testimony and submission (Columbia Law), which relies upon and includes some of ... Testimony on HB 1902 Prohibiting "Pay for Delay" Settlements
The Ghosts of Antitrust Past: Part 3 (AT&T)
The case against AT&T began in 1974. The government alleged that AT&T had monopolized the market for local and long-distance telephone service as well as telephone equipment. In 1982, the company entered into a consent decree to be broken up into eight pieces (the “Baby Bells” plus the parent company), which was completed in 1984. ... The Ghosts of Antitrust Past: Part 3 (AT&T)
The song remains the same: Exceptionalists against the application of the law
In a recent article for the San Francisco Daily Journal I examine Google v. Equustek: a case currently before the Canadian Supreme Court involving the scope of jurisdiction of Canadian courts to enjoin conduct on the internet. In the piece I argue that a globally interconnected system of free enterprise must operationalize the rule of law through continuous ... The song remains the same: Exceptionalists against the application of the law
Schools for Misrule
Walter Olson journeyed to Illinois yesterday to discuss his new book Schools for Misrule. There was a good turnout and a lot of deserved buzz for this very interesting book. Walter describes law schools as essentially the hatcheries of bad ideas that have led to the sort of excessive litigation that Olson has chronicled in ... Schools for Misrule
