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Politically-Mandated Credit Card Interchange Fees Wonโt Create Jobs (But They Will Hurt Consumers and the Economy)
by Geoffrey A. Manne, Joshua D. Wright and Todd J. Zywicki Cross-posted at Business in the Beltway (at Forbes.com) and The Volokh Conspiracy. In a recent commentary at Forbes.com, former Clinton administration economist Robert Shapiro argues that some 250,000 jobs would be created, and consumers would save $27 billion annually, by reducing the interchange fee ... Politically-Mandated Credit Card Interchange Fees Wonโt Create Jobs (But They Will Hurt Consumers and the Economy)
Leegin Legislation Update
A Senate panel approved the Leegin Bill on a voice vote (HT: Main Justice). The story behind the link suggests that there is some Republican opposition brewing. I suspect there will be hearings. The Bill’s findings make the following two observations: (3) Many economic studies showed that the rule against resale price maintenance led to ... Leegin Legislation Update
Breaking Antitrust News: Imposing Duty to Promote Rivals Helps Rivals
From the AP: Norway’s Opera said Thursday that downloads of its browser more than doubled after Microsoft Corp. was forced to give European users a choice of Web software to settle European Union antitrust charges. Microsoft started sending updates to Windows computers in Europe in early March that launches a pop-up screen telling them to ... Breaking Antitrust News: Imposing Duty to Promote Rivals Helps Rivals
Coke, Pepsi, Product Promotion and the Efficiencies of Vertical Integration
The soda industry is trending toward vertical integration, which Coke and Pepsi acquiring their largest bottlers. From the WSJ: Coke and PepsiCo sell concentrate to bottlers, which then bottle and distribute the soft drinks in their territories. Many of these smaller bottlers are small businesses that have been run by family members for decades and ... Coke, Pepsi, Product Promotion and the Efficiencies of Vertical Integration
Are Friedman, Marx, Smith and Keynes Really Out of Hayek's League?
Justin Wolfers is one of my favorite economics bloggers in large part because of the empirical, evidence-based approach he takes to economics problems and policy issues. As co-blogger Todd points out, Wolfers recently generated some data (JSTOR citation counts) that he argues supports the assertion that Hayek is out-classed by those mentioned in the title ... Are Friedman, Marx, Smith and Keynes Really Out of Hayek's League?
Should schools teach Hayek?
The Texas Board of Education recently decided to add F.A. Hayek to the high school economics curriculum. The New York Times reports: In economics, the revisions add Milton Friedman and Friedrich von Hayek, two champions of free-market economic theory, among the usual list of economists to be studied, like Adam Smith, Karl Marx and John ... Should schools teach Hayek?
An Honest Question for Obamacare Supporters
A number of opponents of Obamacare, such as Wall Street Journal columnist William McGurn, have criticized the President and his people for referring to pending proposals as “health insurance reform” rather than “health care reform.” I suppose these critics think the President is engaging in a sleight of hand in an effort to minimize the ... An Honest Question for Obamacare Supporters
Barack Obama, financial journalist?
When I was a student at the University of Chicago Law School, our president lectured there. I didn’t take any classes from him — he taught stuff I wasn’t interested in — but I had friends who did; all raved. The other day, I opened up my copy of the Law School directory for reasons ... Barack Obama, financial journalist?
The Enforcers [#agworkshop] [#dojusda]
To expand on Geoff’s post about concentration in the seed industry, there has been a consistent line of discussion throughout the day raising the specter of monopoly and anti-competitive behavior, not only in seed but also in livestock. There are continual references to adverse price effects and limitations in choice for consumers and producers alike, ... The Enforcers [#agworkshop] [#dojusda]
On seed industry concentration and its claimed effects [#dojusda #agworkshop]
A common theme throughout the day has been the declining number of seed companies–increasing concentration–and its effect. Except no one has talked about the effect. Other than pointing to the structural change itself, no one seems to have any evidence relating to the effect of the change. One farmer at the open mic session (coincidentally ... On seed industry concentration and its claimed effects [#dojusda #agworkshop]
A More "Competitive" Agriculture? [#agworkshop]
The morning’s panel of farmers represented a variety of perspectives, ranging from more reasoned to more reactionary. Among the ideas suggested: More reasoned: Find a balance between food and fuel in the policy debate (though no clear directions how) Increase trade in global markets (always easy to talk about forcing other countries to buy more ... A More "Competitive" Agriculture? [#agworkshop]
Why Citizens United was right
Let me say at the outset, some of my prior beliefs. First, I believe in the marketplace of ideas and think that more speech is generally better than less speech. I believe the Founders shared this belief and enshrined it in the “no law” component of the First Amendment. I believe this is especially true ... Why Citizens United was right
