The Archives

The collection of all scholarly commentary on law, economics, and more

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Seventh Grade Math, revisited

Upon the advice of my friend Kate Litvak, I took a short summer vacation to Walt Disney World.  (In reality, the trip was a work excursion, to meet up with the other Professor Nowicki to work on an executive compensation paper.  But the good news is that the other Professor Nowicki was then at Walt ... Seventh Grade Math, revisited

Jenkins channels Manne

Today’s WSJ has a great article by Holman Jenkins on reporting on the backdating “scandal.”  Larry is, of course, on the case.  I would also — modestly — point out that much of what Jenkins says in his article today, I said in this space about four months ago, when the news was first breaking.  The key ... Jenkins channels Manne

*Why* Are Directors Awarding Spring-Loaded Options?

Of late, my colleagues on the internet have been blogging about stock options – notably discussing backdating and “spring-loading.�  My colleagues have done a fine job with debating whether or not the latter is illegal (and/or reprehensible) and discussing the status of play with the former. My contribution to the discussion is to ask “what ... *Why* Are Directors Awarding Spring-Loaded Options?

The Unconvincing Antitrust Case Against Wal-Mart

I recently picked up a copy of the July Harper’s Magazine to read an essay by Barry C. Lynn entitled, “Breaking the Chain: The Antitrust Case Against Wal-Mart.” If you can’t tell from the title, the basic point is that antitrust authorities should break up Wal-Mart and put an end to the immense havoc that ... The Unconvincing Antitrust Case Against Wal-Mart

Kinderstart v. Google Antitrust Coverage

Kinderstart.com has filed a suit against Google which includes an antitrust claim based on the theory that Google changed its ranking algorithm in a manner that caused Kinderstart’s ranking to drop and revenues to plunge. HT: Antitrust Review. Eric Goldman has got this covered, including links to the complaint, analysis, Google’s motion to dismiss and ... Kinderstart v. Google Antitrust Coverage

What's wrong with what Eduardo Penalver thinks is wrong with property rights initiatives

Over at Co-op, guest blogger Eduardo Penalver posts this screed against property rights initiatives like Oregon’s Measure 37 (about which I blogged here) and Washington’s proposed Initiative I-933.  To my mind he gets it pretty much completely wrong, so I thought I should weigh in. First, he claims that “by most accounts” Oregon’s Measure 37 ... What's wrong with what Eduardo Penalver thinks is wrong with property rights initiatives

Tax

SSRN Top Tens for Corporate, Corporate Governance, and Securities Law

After the jump find the current SSRN top tens for corporate, corporate governance, and securities law.

It's all Roosevelt's fault

My friend Seth Weinberger over at Security Dilemmas has a great post on why the left is actually to blame for the post-9/11 national security apparatus it (and many others) hates so much.  Basically, it comes down to “when the only tool you have is a hammer, everything looks like a nail.”  When bigger government ... It's all Roosevelt's fault

On rigged(?) markets, casinos and Steve Bainbridge

Greetings loyal fans (i.e., “hi mom”) (actually, I’ve made this gag before, and so I think it’s time to set the record straight:   My mom has almost certainly — nay, certainly — never, ever read this blog.  I’m pretty sure she has no idea what a blog is at all.  She may not even be ... On rigged(?) markets, casinos and Steve Bainbridge

What’s the Matter With Chicago?

When was my beloved City of Chicago – a refuge for such liberty lovers as Milton Friedman, Richard Epstein, and F.A. Hayek – overtaken by the Lifestyle Gestapo? First it was the smoking ban. Then, the ban on foie-gras. Now, the city’s most powerful alderman has proposed that the city ban the sale of foods ... What’s the Matter With Chicago?

National Review on Judicial Ethics and GMU's Law and Econ Center

This National Review editorial defends George Mason’s Law and Economics Center from what it describes as “junk ethics” charges.  My colleague Ilya Somin has picked up the story at Volokh.  In the comments to Ilya’s post, GMU Foundation Professor and Associate Dean Frank Buckley, Director of the LEC, responds to some of the charges that have ... National Review on Judicial Ethics and GMU's Law and Econ Center

Wachtell, Lipton Supports Hedge Fund Regulation

The following is contained at the end of a June 28, 2006 Wachtell, Lipton, Rosen & Katz memo addressing the recent Court of Appeals decision to vacate SEC hedge fund registration requirements: In this era of hedge fund activism, the future of hedge fund regulation may impact the balance of power between public companies and ... Wachtell, Lipton Supports Hedge Fund Regulation