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A questionable criticism of “alternative” entities
Steve Bainbridge invites my opinion of Delaware lawyer Edward McNally’s view that alternative entities “may not protect investors.” By “alternative entities” he is referring to limited liability companies and limited partnerships, despite his own recognition that they “have become the preferred form of entity for new businesses” (so why aren’t corporations “alternative entities”)? He uses ... A questionable criticism of “alternative” entities
Law Review Publishing Norms and Inefficient Performance
One of my colleagues recently accepted a publication offer on a law review article, only to receive a later publication offer from a much more prestigious journal. This sort of occurrence is not uncommon in the legal academy, where scholars submitting articles for publication do not offer to publish their work in a journal but rather solicit publication offers from journals (and generally solicit ... Law Review Publishing Norms and Inefficient Performance
DOJ Antitrust to Close Field Offices
The DOJ has announced that it will close 4 Antitrust Division Field Offices. From the DOJ press release: Consolidate Antitrust Division field office space in Atlanta, Cleveland, Dallas and Philadelphia into the Chicago, New York and San Francisco field offices as well as the division’s Washington, D.C.-based section. Ninety-four positions will be reassigned to ... DOJ Antitrust to Close Field Offices
Global Warming
I think the discussion of global warming has been seriously remiss. Those opposed to massive cuts in economic activity through programs such as “cap and trade” have argued that global warming is not real. But whether or not it is real, the debate should be refocused. First, there are possibilities for cheaper methods of limiting ... Global Warming
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
