Showing results for: “digital markets act”
The remains of Howrey
I have previously covered the death of Howrey. I noted here the question of the extent to which Howrey’s LLP shield will protect its former partners from liability for the firm’s debts, and more generally what can happen following “the swift collapse of big law firms that have no real assets except the lawyers who, ... The remains of Howrey
Elite College Pays — For Men, But Not Women
David Leonhart points out the new Dale & Krueger study on the value of an elite undergraduate education. His punchline: A decade ago, two economists — Stacy Dale and Alan Krueger — published a research paper arguing that elite colleges did not seem to give most graduates an earnings boost. As you might expect, the ... Elite College Pays — For Men, But Not Women
The ICANN Board’s Important Test of Independence: .Amazon
One of the main concerns I had during the IANA transition was the extent to which the newly independent organization would be able to behave impartially, implementing its own policies and bylaws in an objective and non-discriminatory manner, and not be unduly influenced by specific “stakeholders”. Chief among my concerns at the time was the ... The ICANN Board’s Important Test of Independence: .Amazon
Just in Time for Christmas: How to Regulate
My new book, How to Regulate: A Guide for Policymakers, is now available on Amazon. Inform Santa! The book, published by Cambridge University Press, attempts to fill what I think is a huge hole in legal education: It focuses on the substance of regulation and sets forth principles for designing regulatory approaches that will maximize social ... Just in Time for Christmas: How to Regulate
The NYT Gets It Right on Outsourcing
On several occasions, I have posted entries criticizing editorials from the New York Times. To be fair, I suppose I should praise the Times when it gets things right — as it does with today’s editorial on the outsourcing of computing work. My only quibble is that the editorial fails to mention the fact that ... The NYT Gets It Right on Outsourcing
Midwest Farmers 1, Environment 0, Poor People -1
Friday’s WSJ documented an effect of ethanol mandates: Rising costs for agricultural commodities are making their way up the food chain into the food you eat. Thanks to rising demand for corn-based ethanol, corn prices have nearly doubled during the past year. That’s raised costs for corn products, like the ubiquitous high-fructose corn syrup that’s ... Midwest Farmers 1, Environment 0, Poor People -1
Zywicki on Chrysler and The Rule of Law
My colleague Todd Zywicki has a must read op-ed in the WSJ. Here’s an excerpt: The Obama administration’s behavior in the Chrysler bankruptcy is a profound challenge to the rule of law. Secured creditors — entitled to first priority payment under the “absolute priority rule” — have been browbeaten by an American president into accepting ... Zywicki on Chrysler and The Rule of Law
Private equity and corporate jets
I’ve written about the benefits of private equity’s “uncorporate” discipline, including owner exit rights and high-powered compensation, in reducing managerial agency costs in large firms. See my Partnership Governance of Large Firms and the longer version in Chapter 8 of my Rise of the Uncorporation. Here’s some more evidence: Edgerton, Agency Problems in Public Firms: ... Private equity and corporate jets
Neo-Chicago Meets Evidence-Based Antitrust
Dan Crane has an excellent essay (“Chicago, Post-Chicago and Neo-Chicago“) reviewing Bob Pitofsky’s Overshot the Mark volume. Here’s Dan’s brief abstract: This essay reviews Bob Pitofsky’s 2008 essay compilation, How Chicago Overshot the Mark: The Effect of Conservative Economic Analysis on U.S. Antitrust. The essay critically evaluates the book’s rough handling of the Chicago School ... Neo-Chicago Meets Evidence-Based Antitrust
The AIG Bailout
A draft of my new paper entitled The AIG Bailout is now up on SSRN. Here’s the abstract: On February 28, 2008, American International Group, Inc. (AIG), the largest insurance company in the United States, announced 2007 earnings of $6.20 billion or $2.39 per share. Its stock closed that day at $50.15 per share. Less ... The AIG Bailout
What’s "Courageous" When It Comes to Taxing Investment Income?
Today’s New York Times accuses President Bush of getting things “exactly backwards” by exhorting Congress to demonstrate political courage by resisting the urge to raise taxes. The politically courageous move, the Times says, would be to raise taxes (i.e., to refuse to extend the 2003 cuts beyond their expiration date). In particular, the Times calls ... What’s "Courageous" When It Comes to Taxing Investment Income?
Lawyers as sponges and thieves
Andy Kessler writes in Thursday’s WSJ: With a heavy regulatory burden, payroll taxes and health-care costs, employing people is very expensive. * * * Tellers, phone operators, stock brokers, stock traders: These jobs are nearly extinct. Since 2007, the New York Stock Exchange has eliminated 1,000 jobs. And when was the last time you spoke ... Lawyers as sponges and thieves
