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Joking about politics
On November 3rd, the president of the United States spoke at the Hotel Lowry in St. Paul, Minnesota, in what was billed repeatedly as a bi-partisan address. The president ridiculed reactionaries in Congress who he claimed represented the wealthy and the powerful, and whose “theory seems to be that if these groups are prosperous, they ... Joking about politics
Steve Salop Wins Global Competition Review Academic Excellence Award
Congratulations to my friend, colleague, and occasional TOTM contributor Steve Salop (Georgetown Law) on winning Global Competition Review’s Academic Excellence Award this year. From the announcement: Around 1,500 Global Competition Review (GCR) readers cast their votes, honoring outstanding individuals in such areas as competition law and economics around the world. GCR is the world’s leading ... Steve Salop Wins Global Competition Review Academic Excellence Award
Gary Becker, the Economic Approach to Crime, and Guerilla Grafters
Fruit trees in a number of cities, including San Francisco, are prevented from bearing fruit in the name of “protecting” pedestrians from slip and falls and keeping away insects and vermin. In response to these regulations, a group of Guerilla Grafters has emerged to — you guessed it — graft fruit bearing branches onto the ... Gary Becker, the Economic Approach to Crime, and Guerilla Grafters
I Will be Participating Today on the Live Webcast “This Week in Law”
Today at 11AM PT I will be participating on the live webcast “This Week in Law” along with TechFreedom Senior Adjunct Fellow Larry Downes. Denise Howell will be hosting and we will also be joined by fellow participant Evan Brown. This week we will be discussing various topics in tech policy including Senator Al Franken’s ... I Will be Participating Today on the Live Webcast “This Week in Law”
Europe Should Let Competition Run Its Course In Motorola Patent Dispute
On Tuesday the European Commission opened formal proceedings against Motorola Mobility based on its patent licensing practices surrounding some of its core cellular telephony, Internet video and Wi-fi technology. The Commission’s concerns, echoing those raised by Microsoft and Apple, center on Motorola’s allegedly high royalty rates and its efforts to use injunctions to enforce the ... Europe Should Let Competition Run Its Course In Motorola Patent Dispute
Halbert White, RIP
Renowned UCSD economics professor, and founder of Bates White, Halbert White died on Saturday. His CV is here. James Hamilton offers a touching tribute and wonderful summary of White’s important work in econometrics here. Of White standard errors, perhaps his most well known contribution, Hamilton explains: An example arises in ordinary regression analysis, in which ... Halbert White, RIP
My Professor, My Judge, and the Doctrine of Judicial Review
Imagine if you picked up your morning paper to read that one of your astronomy professors had publicly questioned whether the earth, in fact, revolves around the sun. Or suppose that one of your economics professors was quoted as saying that consumers would purchase more gasoline if the price would simply rise. Or maybe your ... My Professor, My Judge, and the Doctrine of Judicial Review
Potential Problems with an FDA Model for Regulating Financial Products
New York Times columnist Gretchen Morgenson is arguing for a “pre-clearance” approach to regulating new financial products: The Food and Drug Administration vets new drugs before they reach the market. But imagine if there were a Wall Street version of the F.D.A. — an agency that examined new financial instruments and ensured that they were safe and ... Potential Problems with an FDA Model for Regulating Financial Products
The Law and Economics of Any Willing Provider Laws
While I’m posting about health care regulation, I’d like to point TOTM readers to a short article with Jonathan Klick (University of Pennsylvania) summarizing the economics and empirical evidence surrounding “Any Willing Provider”(AWP) laws for the Washington Legal Foundation. We write: This analysis evaluates the antitrust law ramifications of proposals requiring pharmacy benefit managers (“PBMs”) ... The Law and Economics of Any Willing Provider Laws
Against Antitrust Exemptions, H.R. 1946 Edition
I testified Thursday on H.R. 1946, the “Preserving our Local Hometown Independent Pharmacies Act of 2011,” in front of the House Committee on the Judiciary Subcommittee on Intellectual Property, Competition and the Internet. The Act, as implied by the title, would establish an antitrust exemption for smaller pharmacies. The hearing lineup is available here. My written ... Against Antitrust Exemptions, H.R. 1946 Edition
The Best Way to Save Endangered Antelope: Allow Hunting on Private Preserves
There’s some good news on the endangered species front: Three species of endangered African antelopes — the Scimitar-Horned Oryx, Addax, and Dama Gazelle — are coming back with a vengeance. At least in Texas, where the population of the three antelope species quadrupled from 2004 to 2010, growing to a combined total of around 17,000. What’s the ... The Best Way to Save Endangered Antelope: Allow Hunting on Private Preserves
Romney’s Money
Mitt Romney made a lot of money at Bain Capital. The press seems to view this as a negative; even the Wall Street Journal is piling on, and the Obama Campaign is paying attention. This is misguided. The lesson to take away from Romney’s high earnings is that he is more dedicated than most politicians; ... Romney’s Money
