Showing results for: “digital markets act”
“If no one else sues them, I will”
So says Nassim Nicholas Talem of Black Swan fame, referring to the Nobel committee for “legitimizing” economists, inducing reliance on their ideas, and thereby causing the financial crisis. According to the article, Taleb identified Harry Markowitz, Merton Miller and William Sharpe for their work on portfolio theory. Talem goes on to announce that he wants ... “If no one else sues them, I will”
Close corporations in the age of LLCs
On Friday I’m joining Eric Gouvin, Lyman Johnson, Mark Loewenstein, Bob Thompson, Dan Kleinberger, Benjamin Means, Doug Moll, Deborah DeMott and Massachusetts Justice Francis X. Spina at a Western New England College conference on “Fiduciary Duties in the Closely Held Firm 35 Years after Wilkes v. Springside Nursing.” Not surprisingly, I’ll be talking about the ... Close corporations in the age of LLCs
Nobel Speculation Time
Every year around this time, I repeat my prediction that Armen Alchian, Harold Demsetz, and Ben Klein will win the Nobel Prize for contributions to the theory of the firm, property rights, and transaction cost economics. I understand that last year’s prize makes this combination less likely, but I see no reason to deviate. I ... Nobel Speculation Time
From Today’s New York Times: Uber and Amazon
The Times seems to specialize in stories that use lots of economics but still miss the important points. Two examples from today: Stories about Uber, and about the dispute between Amazon and Hachette. UBER: The article describes Uber’s using price changes to measure elasticity of demand, and more or less gets it right. But it ... From Today’s New York Times: Uber and Amazon
A fourth of Big Law is about to disappear
Am Law Daily reports on a Hildebrandt analysis (HT Law Blog) predicting “that nearly 27 percent of the 65,000 non-partner positions at Am Law 200 firms could be cut or recategorized as lower-paying positions over the next five to seven years.” Causes include “flat demand for legal services,” price pressure from clients, outsourcing, Six Sigma ... A fourth of Big Law is about to disappear
The Ethicist strikes again
One of my students brought to my attention this pearl of wisdom from (what appears to be this week’s forthcoming) The Ethicist column in the NYT: I am a 13-year-old boy. My school has a monthly pizza sale. Parents buy pies from a pizzeria and sell them to us for $1 a slice. I bought ... The Ethicist strikes again
