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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
SCOTUS Denies Cert in Leegin II
From the WSJ: The U.S. Supreme Court on Tuesday refused to take another look at its controversial 2007 antitrust ruling that allowed manufacturers to set retail prices for their products. The court, without comment, rejected an appeal by the Texas boutique retailer that was on the losing end of the court’s 5-4 decision nearly four ... SCOTUS Denies Cert in Leegin II
Some Links
Ann Althouse is indispensable on the Wisconsin protests (start here to catch up) David Henderson on collective bargaining rights Bainbridge on the top 10 presidents The latest on the potential Apple antitrust investigations (see my previous commentary here)
A nation of lawyers and judges
Doing just about anything in the U.S. today involves seeing a lawyer. Congress, the states and administrative agencies have passed a vast network of laws spreading over all aspects of life — not just business transactions, but family relationships, personal finance, the workplace, birth and death. Lawyers are expensive. Good lawyers are very expensive. Want ... A nation of lawyers and judges
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
Is the FTC Moving to the National Gallery of Art?
The Federal Trade Commissioners have posted a letter to Congressmen John Mica and Nick Rahall, members of the House Transportation and Infrastructure Committee, “in response to legislative action by the Committee to transfer the historic FTC Building to the National Gallery of Art.” I had not heard about any planned legislative action to move the ... Is the FTC Moving to the National Gallery of Art?
Dan Crane’s The Institutional Structure of Antitrust Enforcement
Dan Crane’s new book is now available from Oxford University Press (HT: Danny Sokol). Dan has been a repeat visitor to TOTM, is a co-author, and his scholarship on is always insightful. I suspect this book will become a standard reference in the growing antitrust institutions literature. Here is the book description from the OUP ... Dan Crane’s The Institutional Structure of Antitrust Enforcement
Unconscionability for corporate law
So you thought unconscionability was for furniture stores? Larry Cunningham has news for you: This Article explains why and how traditional contract law’s theory of unconscionability should be used to create a modicum of judicial scrutiny to strike obnoxious pay contracts and preserve legitimate ones. Under this proposal, pay contracts that are the product of ... Unconscionability for corporate law
Lawyers in Jeopardy
The WSJ reports: In a nationally televised competition, the Watson computer system built by International Business Machines Corp. handily defeated two former “Jeopardy” champions. * * * To emulate the human mind, and make it competitive on the TV quiz show, Watson was stuffed with millions of documents—including dictionaries, anthologies and the World Book Encyclopedia. ... Lawyers in Jeopardy
Death to insider traders
NY U.S. Attorney Preet Bharara testified today at the U.S. Sentencing Commission for stiffer insider trading penalties. He said “[t]he guidelines as they stand may be letting some defendants in some cases off with lighter sentences than they deserve” because stock market moves unrelated to the inside information reduced or eliminated profit on their trades. ... Death to insider traders
The Airgas decision
So Chancellor Chandler, in deciding Airgas, preserved the board’s power to decide when to sell the company. If a company’s shareholders don’t like it, they need to replace the board. If shareholders generally don’t like it they need to change the Delaware statute. In upholding the board’s power, and confirming what most astute observers knew ... The Airgas decision
Antitrust and ObamaCare
There is an interesting story developing on antitrust enforcement and collaboration between hospitals and doctors encouraged by the new health care law. The New York Times reports: An influential Republican member of the Federal Trade Commission, J. Thomas Rosch, said that without “vigorous antitrust enforcement,” the new alliances of health care providers could reduce competition ... Antitrust and ObamaCare
