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The end of the $160,000 first year associate
The WSJ discusses the declining value of first-year associates as clients are refusing to pay for training. Clients question whether new associates have “a sophisticated knowledge of the business world, and many nuts and bolts, such as how to prepare a witness for a deposition or the precise terms that, say, need to be included ... The end of the $160,000 first year associate
The Fate of the FCC’s Open Internet Order–Lessons from Bank Fees
Economists have long warned against price regulation in the context of network industries, but until now our tools have been limited to complex theoretical models. Last week, the heavens sent down a natural experiment so powerful that the theoretical models are blushing: In response to a new regulation preventing banks from charging debit-card swipe fees ... The Fate of the FCC’s Open Internet Order–Lessons from Bank Fees
Introducing Guest Blogger Hal Singer
We’re delighted to be joined for the next couple of weeks by guest blogger, Hal Singer. Hal is Managing Director and Principal at Navigant Economics. He has written, thought and advised extensively on antitrust, finance and general regulatory issues. His SSRN page is here, and it includes co-authors like David Teece, Dan Rubinfeld, Jerry Hausman, Greg Sidak, Bob ... Introducing Guest Blogger Hal Singer
Wall Street and Vine in the WSJ
Today’s WSJ covers Hollywood’s treatment of business. And so, of course, they went to the Source (link added): Hollywood has been famously left-leaning for decades, even as it teemed with shrewd business operators. Larry Ribstein, a professor of law at the University of Illinois who wrote a paper called “Wall Street and Vine” about the ... Wall Street and Vine in the WSJ
A Macro Conference
I was invited to attend the Financial Times Global Conference “The View From the Top: The Future of America” and since I was in New York anyway I thought it would be fun. I don’t hang around with macro types much, and even less with liberal macro types. I will not summarize the entire conference, ... A Macro Conference
The Return of Chicago Law and Economics?
A few years ago, spurred on by Justice Scalia’s observation that the school had lost “the niche it once had as a rigorous and conservative law school,” there was some blog discussion about the apparent decline of Law and Economics at the University of Chicago. Professor Bainbridge observed that it was certainly the case that ... The Return of Chicago Law and Economics?
Shouldn’t the Wall Street Occupiers Oppose Obamacare?
It’s hard to discern much that’s coherent — much less cogent — from the cacophony that is Occupy Wall Street, but one valid complaint continually sounds through the noise: When business interests get in bed with the government, injustice tends to result. The Wall Street Occupiers are of course focused primarily on bailed-out financial firms (though not on union favorites GM ... Shouldn’t the Wall Street Occupiers Oppose Obamacare?
Agency Costs and Airline Delays
Luke Froeb has a great post on the chart above, agency costs, and airline delays. In particular, Froeb is interested in “on-time” departures, i.e. the plane pushes back from the gate on time, but sits near the gate until it is their turn in the queue. Read the whole thing, but here is the key ... Agency Costs and Airline Delays
72% of Antitrust Lawyers Not Impressed By Case Against Google
It is not exactly the application of the consumer welfare standard, nor a scientific survey, but nonetheless an interesting poll at the American Bar Association Antitrust & Intellectual Property Conference before and after presentations from lawyers representing each side. The results? While this is an admittedly small sample size and may not be representative of ... 72% of Antitrust Lawyers Not Impressed By Case Against Google
Manifesto
Michigan Avenue, Chicago, 10/8/11.
Law as a Byproduct in Munich
I’m off to the International conference on “Regulatory Competition in Contract Law and Dispute Resolution” at Ludwig-Maximilians-University’s Center for Advanced Studies in Munich. I’m joining an otherwise illustrious group (here’s the program) to present my and Kobayashi’s Law as a Byproduct. Blogging may be light for the next week (but eating and drinking may be ... Law as a Byproduct in Munich
ACS Blog Debate on Google: Putting Consumer Welfare First in Antitrust Analysis of Google
[I am participating in an online “debate” at the American Constitution Society with Professor Ben Edelman. The debate consists of an opening statement and concluding responses to be posted later in the week. Professor Edelman’s opening statement is here. I am cross-posting my opening statement here at TOTM. This is my closing statement] Professor Edelman’s ... ACS Blog Debate on Google: Putting Consumer Welfare First in Antitrust Analysis of Google
