Showing results for: “price gouging”
Bill MacLeod: A Personal Reflection on Fred McChesney
William C. MacLeod is a partner at Kelley, Drye & Warren LLP, where he chairs the firm’s Antitrust and Competition practice group. He is a former director of the Bureau of Consumer Protection at the FTC. It is only with hindsight that we can appreciate the naïveté of conventional wisdom. In 1970, when Fred McChesney ... Bill MacLeod: A Personal Reflection on Fred McChesney
In Memoriam: Fred McChesney
As many Truth on the Market readers likely know, law and economics scholar, Fred McChesney, passed away last month. As we prepare to lay Fred to rest later this week, I have asked some of Fred’s friends and colleagues to contribute their thoughts about Fred’s life, and his influence as a scholar and as a ... In Memoriam: Fred McChesney
Inter Partes Review Jeopardizes the Social Contract between Drug Makers and Patients
It’s been six weeks since drug maker Allergan announced that it had assigned to the Saint Regis Mohawk Tribe the patents on Restasis, an Allergan drug challenged both in IPR proceedings and in Hatch-Waxman proceedings in federal district court. The unorthodox agreement was intended to shield the patents from IPR proceedings (and thus restrict the ... Inter Partes Review Jeopardizes the Social Contract between Drug Makers and Patients
IMG-Learfield: An antitrust reality check on two-sided market mergers
Yesterday Learfield and IMG College inked their recently announced merger. Since the negotiations were made public several weeks ago, the deal has garnered some wild speculation and potentially negative attention. Now that the merger has been announced, it’s bound to attract even more attention and conjecture. On the field of competition, however, the market realities ... IMG-Learfield: An antitrust reality check on two-sided market mergers
Single Firm Conduct: European Competition Policy, the European Court of Justice, and Brexit
In recent years, the European Union’s (EU) administrative body, the European Commission (EC), increasingly has applied European competition law in a manner that undermines free market dynamics. In particular, its approach to “dominant” firm conduct disincentivizes highly successful companies from introducing product and service innovations that enhance consumer welfare and benefit the economy – merely ... Single Firm Conduct: European Competition Policy, the European Court of Justice, and Brexit
Developing an Economically Efficient American Trade Policy to Deal with Distortionary Government Subsidies: Brexit and Beyond
U.S. international trade law has various statutory mechanisms to deal with unfair competition. Regrettably, American trade law (and, for that matter, the trade laws of other nations) has a history of being deployed in a mercantilist fashion to further the interests of American producer interests, rather than consumer interests and aggregate economic welfare. That need ... Developing an Economically Efficient American Trade Policy to Deal with Distortionary Government Subsidies: Brexit and Beyond
The antitrust laws are not some meta-legislation authorizing whatever regulation activists want: Labor market edition
In a recent post at the (appallingly misnamed) ProMarket blog (the blog of the Stigler Center at the University of Chicago Booth School of Business — George Stigler is rolling in his grave…), Marshall Steinbaum keeps alive the hipster-antitrust assertion that lax antitrust enforcement — this time in the labor market — is to blame ... The antitrust laws are not some meta-legislation authorizing whatever regulation activists want: Labor market edition
Democratic Party “Better Deal” Antitrust Proposals Would be a “Worse Deal” for the American Economy and Consumers
On July 24, as part of their newly-announced “Better Deal” campaign, congressional Democrats released an antitrust proposal (“Better Deal Antitrust Proposal” or BDAP) entitled “Cracking Down on Corporate Monopolies and the Abuse of Economic and Political Power.” Unfortunately, this antitrust tract is really an “Old Deal” screed that rehashes long-discredited ideas about “bigness is badness” ... Democratic Party “Better Deal” Antitrust Proposals Would be a “Worse Deal” for the American Economy and Consumers
When Should the Government Provide Public Goods?
My new book, How to Regulate: A Guide for Policymakers, will be published in a few weeks. A while back, I promised a series of posts on the book’s key chapters. I posted an overview of the book and a description of the book’s chapter on externalities. I then got busy on another writing project ... When Should the Government Provide Public Goods?
The Washington Post editorial board understands online competition better than the European Commission does
Last week the editorial board of the Washington Post penned an excellent editorial responding to the European Commission’s announcement of its decision in its Google Shopping investigation. Here’s the key language from the editorial: Whether the demise of any of [the complaining comparison shopping sites] is specifically traceable to Google, however, is not so clear. ... The Washington Post editorial board understands online competition better than the European Commission does
An Apollo 13 approach to Obamacare
“Houston, we have a problem.” It’s the most famous line from Apollo 13 and perhaps how most Republicans are feeling about their plans to repeal and replace Obamacare. As repeal and replace has given way to tinker and punt, Congress should take a lesson from one of my favorite scenes from Apollo 13. https://www.youtube.com/watch?v=C2YZnTL596Q “We ... An Apollo 13 approach to Obamacare
Introducing TOTM’s newest blogger and ICLE’s new chief economist, Eric Fruits
We’re delighted to welcome Eric Fruits as our newest blogger at Truth on the Market. Eric Fruits, Ph.D. is the Oregon Association of Realtors Faculty Fellow at Portland State University and the recently minted Chief Economist at the International Center for Law & Economics. Among other things, Dr. Fruits is an antitrust expert, with particular expertise ... Introducing TOTM’s newest blogger and ICLE’s new chief economist, Eric Fruits
