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Bork and the Antitrust Paradox Revisited
The Harvard Journal on Law and Public Policy recently published a symposium on the contributions of Judge Robert Bork. Readers of TOTM might be interested in three essays on Bork’s enduring contributions to antitrust law from Judge Frank Easterbrook, Judge Douglas Ginsburg, and Professor George Priest. The following excerpt from Easterbrook’s essay, I thought, was ... Bork and the Antitrust Paradox Revisited
Likely Monopolization Suit Targets
I’ve written previously about the upcoming surge in monopolization enforcement deriving from a “perfect storm” of sorts, including: (1) an incoming administration dedicated to “reinvigorate antitrust enforcement,” (2) an outgoing administration heavily and publicly criticized for lack of monopolization enforcement, and (3) interjurisdictional competition between the US and EU as the world’s primary antitrust enforcer ... Likely Monopolization Suit Targets
More on Error Costs
Speaking of error cost analysis, this paper from a trio of lawyers in the General Counsel’s Policy Studies’ group at the FTC has a section entitled “Error Costs: The False Positive/ Negative Debate.” A frustration for me in discussing the error cost issue with respect to antitrust policy is that many people do not seem ... More on Error Costs
Kevin Murphy models the stimulus–and the results aren't pretty
A great video from the University of Chicago here with comments from John Huizinga, Kevin Murphy and Robert Lucas. John Huizinga also wonders if we’re calculating the costs. Robert Lucas is skeptical. But Kevin Murphy’s discussion is (not surprisingly) worth the price of admission (I only wish the video showed the slides). He puts some ... Kevin Murphy models the stimulus–and the results aren't pretty
Tom Smith Gets Error Costs
Here he is making the very basic but critical point while responding to Delong’s critique of classic liberalism: DeLong explains why classical liberalism/libertarianism is wrong. I agree with much of what he says. The problem is, and it’s a very basic mistake and I don’t understand why people keep making it, is that just because ... Tom Smith Gets Error Costs
Microsoft Again. Really? Why?
DG Comp is after Microsoft. Again. Here is the EU’s press release which states the obvious about the basis of the Statement of Objections : the Commission’s decision in the Windows Media Player decision renders illegal virtually any tie by a firm with a “dominant” share under EU law. Therefore, Microsoft’s inclusion of Internet Explorer ... Microsoft Again. Really? Why?
George W. Bush's stinky parting gift
Bush has proved himself to be a statist, protectionist ignoramus on many occasions. But this, one of his final acts in office, is simply appalling: People in the southern French district of Lozeyron are having a hard time swallowing US President George W. Bush’s parting gift: a tripling to 300 percent in import duty on ... George W. Bush's stinky parting gift
Sykuta on Bailing Out the Italians
My friend and Missouri colleague, Mike Sykuta, sent me the following insightful comments about the expected Fiat/Chrysler deal: Today’s Wall Street Journal reports that Fiat is expected to announce a new partnership with Chrysler LLC that will, in the end, result in Fiat taking control of Chrysler. So, what about that bailout of the US ... Sykuta on Bailing Out the Italians
The heart of the matter
David Evans gets to the heart of the matter: The problem that we now face involves fixing many different aspects of our financial system—from incentive systems that encouraged excessive risk taking (do we really believe bankers are innately more greedy than anyone else?), to financial engineers who didn’t think through the consequences of their innovations, ... The heart of the matter
What One Article Should Obama Read Tonight?
Imagine what must be going through President-elect Barack Obama’s head today. Tomorrow he begins what must be the most stressful job on the planet (just look at before-and-after pictures of Presidents Clinton and Bush, both of whom appeared to age decades in only eight years). He’s just come off a love-fest featuring the likes of ... What One Article Should Obama Read Tonight?
Should the Supreme Court Grant Cert in Rambus (Revisited, and Cross-Posted at Patently-O)
[Rutgers Professor Michael Carrier recently posted as a guest at Patently-O arguing in favor of the FTC’s position in Rambus and the Supreme Court granting certiorari. I thought Professor Crouch might be interested in sharing with his readers a different perspective on the merits of the FTC’s petition for cert in Rambus sketched out in ... Should the Supreme Court Grant Cert in Rambus (Revisited, and Cross-Posted at Patently-O)
More (less) on the costs of stimulus
This is what I’m talking about in my last post: We can continue to debate the size and nature of the stimulus, of course, but roughly $800bn seems right and the mix of spending and tax cuts currently proposed also makes sense. Yeah, roughly $800,000,000,000, give or take a few zeros. Y’know, back of the envelope. ... More (less) on the costs of stimulus
