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The Deterioration of Appropriate Remedies in Patent Disputes
Property rights are a pillar of the free market. As Harold Demsetz famously argued, they spur specialization, investment and competition throughout the economy. And the same holds true for intellectual property rights (IPRs). However, despite the many social benefits that have been attributed to intellectual property protection, the past decades have witnessed the birth and ... The Deterioration of Appropriate Remedies in Patent Disputes
Doublespeak in the Debate About Rural Broadband Buildout
As Thomas Sowell has noted many times, political debates often involve the use of words which if taken literally mean something very different than the connotations which are conveyed. Examples abound in the debate about broadband buildout. There is a general consensus on the need to subsidize aspects of broadband buildout to rural areas in ... Doublespeak in the Debate About Rural Broadband Buildout
The Myth of the Cyber Barons
During last week’s antitrust hearing, Representative Jamie Raskin (D-Md.) provided a sound bite that served as a salvo: “In the 19th century we had the robber barons, in the 21st century we get the cyber barons.” But with sound bites, much like bumper stickers, there’s no room for nuance or scrutiny. The news media has ... The Myth of the Cyber Barons
Big Tech and the Parable of the Broken Window
A boy throws a brick through a bakeshop window. He flees and is never identified. The townspeople gather around the broken glass. “Well,” one of them says to the furious baker, “at least this will generate some business for the windowmaker!” A reasonable statement? Not really. Although it is indeed a good day for the ... Big Tech and the Parable of the Broken Window
Institutional weakness and the fight against Covid-19 in Peru
Peru’s response to the pandemic has been one of the most radical in Latin America: Restrictions were imposed sooner, lasted longer and were among the strictest in the region. Peru went into lockdown on March 15 after only 71 cases had been reported. Along with the usual restrictions (temporary restaurant and school closures), the Peruvian ... Institutional weakness and the fight against Covid-19 in Peru
The Furman Report is a Flimsy Basis for a New UK Competition Policy
Earlier this year the UK government announced it was adopting the main recommendations of the Furman Report into competition in digital markets and setting up a “Digital Markets Taskforce” to oversee those recommendations being put into practice. The Competition and Markets Authority’s digital advertising market study largely came to similar conclusions (indeed, in places it ... The Furman Report is a Flimsy Basis for a New UK Competition Policy
In Defense of Usage-Based Billing
In the face of an unprecedented surge of demand for bandwidth as Americans responded to COVID-19, the nation’s Internet infrastructure delivered for urban and rural users alike. In fact, since the crisis began in March, there has been no appreciable degradation in either the quality or availability of service. That success story is as much ... In Defense of Usage-Based Billing
On the Origin of Platforms: An Evolutionary Perspective
Hardly a day goes by without news of further competition-related intervention in the digital economy. The past couple of weeks alone have seen the European Commission announce various investigations into Apple’s App Store (here and here), as well as reaffirming its desire to regulate so-called “gatekeeper” platforms. Not to mention the CMA issuing its final ... On the Origin of Platforms: An Evolutionary Perspective
Happy 90th Birthday to Thomas Sowell, One of the Great Scholars of Law & Economics: A Sowell-Inspired Agenda for Racial Justice
One of the great scholars of law & economics turns 90 years old today. In his long and distinguished career, Thomas Sowell has written over 40 books and countless opinion columns. He has been a professor of economics and a long-time Senior Fellow at the Hoover Institution. He received a National Humanities Medal in 2002 ... Happy 90th Birthday to Thomas Sowell, One of the Great Scholars of Law & Economics: A Sowell-Inspired Agenda for Racial Justice
EU General Court Sends a Maverick Packing
Last month the EU General Court annulled the EU Commission’s decision to block the proposed merger of Telefónica UK by Hutchison 3G UK. It what could be seen as a rebuke of the Directorate-General for Competition (DG COMP), the court clarified the proof required to block a merger, which could have a significant effect on ... EU General Court Sends a Maverick Packing
Senator Hawleyโs Unconstitutional, Unconservative Attack on the Internet
Twitter’s decision to begin fact-checking the President’s tweets caused a long-simmering distrust between conservatives and online platforms to boil over late last month. This has led some conservatives to ask whether Section 230, the ‘safe harbour’ law that protects online platforms from certain liability stemming from content posted on their websites by users, is allowing ... Senator Hawleyโs Unconstitutional, Unconservative Attack on the Internet
For the Bar, Competition is Always โUnethicalโ
State bar associations, with the backing of state judiciaries and legislatures, are typically entrusted with a largely unqualified monopoly over licensing in legal services markets. This poses an unavoidable policy tradeoff. Designating the bar as gatekeeper might protect consumers by ensuring a minimum level of service quality. Yet the gatekeeper is inherently exposed to influence ... For the Bar, Competition is Always โUnethicalโ
