Showing results for: “coase”
The essence of Josh Wright’s FTC tenure was to ensure that benefits outweigh costs; the rest is commentary
As the organizer of this retrospective on Josh Wright’s tenure as FTC Commissioner, I have the (self-conferred) honor of closing out the symposium. When Josh was confirmed I wrote that: The FTC will benefit enormously from Josh’s expertise and his error cost approach to antitrust and consumer protection law will be a tremendous asset to ... The essence of Josh Wright’s FTC tenure was to ensure that benefits outweigh costs; the rest is commentary
In Memoriam: Henry G. Manne (1928-2015)
Henry Manne was a great man, and a great father. He was, for me as for many others, one of the most important intellectual influences in my life. I will miss him dearly. Following is his official obituary. RIP, dad. Henry Girard Manne died on January 17, 2015 at the age of 86. A towering figure ... In Memoriam: Henry G. Manne (1928-2015)
Si Monumentum Requiris, Circumspice
The famous epitaph that adorns Sir Christopher Wren’s tomb in St. Paul’s Cathedral – Si monumentum requiris, circumspice (“if you seek his monument, look around you”) – applies equally well to Henry Manne, who passed away on January 17. Wren left a living memorial to his work in St. Paul’s and the many other churches ... Si Monumentum Requiris, Circumspice
Watching local and a la carte is a recipe for STAVRAtion
The free market position on telecom reform has become rather confused of late. Erstwhile conservative Senator Thune is now cosponsoring a version of Senator Rockefeller’s previously proposed video reform bill, bundled into satellite legislation (the Satellite Television Access and Viewer Rights Act or “STAVRA”) that would also include a provision dubbed “Local Choice.” Some free marketeers have defended ... Watching local and a la carte is a recipe for STAVRAtion
CONDITIONAL PRICING PRACTICES AND THE LIMITS OF ANTITRUST
The Federal Trade Commission’s (FTC) June 23 Workshop on Conditional Pricing Practices featured a broad airing of views on loyalty discounts and bundled pricing, popular vertical business practices that recently have caused much ink to be spilled by the antitrust commentariat. In addition to predictable academic analyses featuring alternative theoretical anticompetitive effects stories, the Workshop ... CONDITIONAL PRICING PRACTICES AND THE LIMITS OF ANTITRUST
Murray L. Weidenbaum, R.I.P.
The world of economics and public policy has lost yet another giant. Joining Ronald Coase, James Buchanan, Armen Alchian, and Robert Bork is a man whose name may be less familiar to TOTM readers but whose ideas have been hugely influential, particularly on me. As the first chairman of President Reagan’s Council of Economic Advisers, ... Murray L. Weidenbaum, R.I.P.
On Debating Imaginary Felds
Harold Feld, in response to a recent Washington Post interview with AEI’s Jeff Eisenach about AEI’s new Center for Internet, Communications, and Technology Policy, accused “neo-conservative economists (or, as [Feld] might generalize, the ‘Right’)” of having “stopped listening to people who disagree with them. As a result, they keep saying the same thing over and over again.” (Full disclosure: ... On Debating Imaginary Felds
Truth on the Market on Coase
Not surprisingly, we’ve discussed Coase quite a bit here at Truth on the Market. Follow this link to see our collected thoughts on Coase over the years. Probably my favorite, and certainly most frequently quoted, of Coase’s many wise words is this: One important result of this preoccupation with the monopoly problem is that if an ... Truth on the Market on Coase
Ronald Coase on regulation
As Gus said, there will be much more to say, and much more said by others, on Coase’s passing. For now, I offer this excerpt from a 1997 Reason interview he gave with Tom Hazlett: Hazlett: You said you’re not a libertarian. What do you consider your politics to be? Coase: I really don’t know. I don’t reject ... Ronald Coase on regulation
Ronald Coase, 1910-2013
Many more, who will do far more justice than I can, will have much more to say on this, so I will only note it here. Ronald Coase has passed away. He was 102. The University of Chicago Law School has a notice here. The first thing I wrote on the board for my students this ... Ronald Coase, 1910-2013
Tesla and the Auto Dealers Lobby
In Continental T.V. v. GTE Sylvania (1977), Justice Powell observed that antitrust law should go easy on manufacturer restraints on dealer resale because manufacturers could always decide to integrate forward into distribution and bypass dealers altogether. As anyone who has followed electric car manufacturer Tesla’s recent travails will know, Justice Powell’s observation is not true ... Tesla and the Auto Dealers Lobby
Time for Congress to Cancel the FTC’s Section 5 Antitrust Blank Check
A debate is brewing in Congress over whether to allow the Federal Trade Commission to sidestep decades of antitrust case law and economic theory to define, on its own, when competition becomes “unfair.” Unless Congress cancels the FTC’s blank check, uncertainty about the breadth of the agency’s power will chill innovation, especially in the tech ... Time for Congress to Cancel the FTC’s Section 5 Antitrust Blank Check
