Showing results for: “price gouging”
From the Wall Street Journal, July 8, 2014, on Crony Capitalism
My son Joe and I have an op-ed in today’s WSJ that should stir up some controversy. Opinion Wall Street Journal The Case for Crony Capitalism Many government regulations choke off entirely legal avenues of potential bank profits. By Paul H. Rubin And Joseph S. Rubin July 7, 2014 7:34 p.m. ET Economics has a ... From the Wall Street Journal, July 8, 2014, on Crony Capitalism
An Additional Cost of Non-Price Rationing
Today’s (July 5, 2014) New York Times has an interesting story about rationing of water in California. There are apparently rules in place urging people to cut back on water use, but they are apparently not well enforced. Unsurprisingly, these appeals and unenforced rules are having relatively small effects. So many municipalities are urging neighbors ... An Additional Cost of Non-Price Rationing
Permissionless innovation does not mean “no contracts required”
UPDATE: I’ve been reliably informed that Vint Cerf coined the term “permissionless innovation,” and, thus, that he did so with the sorts of private impediments discussed below in mind rather than government regulation. So consider the title of this post changed to “Permissionless innovation SHOULD not mean ‘no contracts required,'” and I’ll happily accept that ... Permissionless innovation does not mean “no contracts required”
Halliburton and the Paradox of an Efficient Stock Market
I share Alden’s disappointment that the Supreme Court did not overrule Basic v. Levinson in Monday’s Halliburton decision. I’m also surprised by the Court’s ruling. As I explained in this lengthy post, I expected the Court to alter Basic to require Rule 10b-5 plaintiffs to prove that the complained of misrepresentation occasioned a price effect. ... Halliburton and the Paradox of an Efficient Stock Market
SUPREMES PRESERVE FRAUD ON THE MARKET (AND BAIL OUT CLASS ACTION PLAINTIFFS) – TIME FOR CONGRESS TO KILL IT
On June 23 the Supreme Court regrettably declined the chance to stem the abuses of private fraud-based class action securities litigation. In Halliburton v. EPJ Fund (June 23, 2014), a six-Justice Supreme Court majority (Chief Justice Roberts writing for the Court, joined by Kennedy, Ginsburg, Breyer, Sotomayor, and Kagan) reversed the Fifth Circuit and held ... SUPREMES PRESERVE FRAUD ON THE MARKET (AND BAIL OUT CLASS ACTION PLAINTIFFS) – TIME FOR CONGRESS TO KILL IT
For Better Health Care Systems, States Should Take a Dose of Competition and Reject Antitrust Exemptions
Government impediments to the efficient provision of health care services in the United States are legion. While much recent attention has focused on the federal Patient Protection and Affordable Care Act, which by design reduces consumer choice and competition, harmful state law restrictions have long been spotlighted by the U.S. Federal Trade Commission (FTC) and ... For Better Health Care Systems, States Should Take a Dose of Competition and Reject Antitrust Exemptions
Restaurant Reservations
Today’s New York Times has an interesting article on restaurant reservations (Julia Moskin, “Getting a Good Table by Flicking an App, Not Greasing a Palm,” Saturday, June 14, p. A1, As the title suggests, there are now various apps and online services that obtain hot restaurant reservations and then sell them to willing buyers. This ... Restaurant Reservations
FTC closes Men’s Warehouse/Jos A Bank merger investigation
Credit where it’s due — the FTC has closed its investigation of the Men’s Warehouse/Jos. A. Bank merger. I previously wrote about the investigation here, where I said: I would indeed be shocked if a legitimate economic analysis suggested that Jos. A. Banks and Men’s Warehouse occupied all or most of any relevant market. For the most ... FTC closes Men’s Warehouse/Jos A Bank merger investigation
Need for Chinese Antitrust Reform (and IP and Price-Related Concerns) Spotlighted at ABA Beijing Conference
The American Bar Association’s (ABA) “Antitrust in Asia: China” Conference, held in Beijing May 21-23 (with Chinese Government and academic support), cast a spotlight on the growing economic importance of China’s six-year old Anti-Monopoly Law (AML). The Conference brought together 250 antitrust practitioners and government officials to discuss AML enforcement policy. These included the leaders ... Need for Chinese Antitrust Reform (and IP and Price-Related Concerns) Spotlighted at ABA Beijing Conference
The Ninth Circuit Rescues the Government Raisin Cartel
On May 9, 2014, in Horne v. Department of Agriculture, the Ninth Circuit struck a blow against economic liberty by denying two California raisin growers’ efforts to recover penalties imposed against them by the U.S. Department of Agriculture (USDA). The growers’ heinous offense was their refusal to continue participating in a highly anticompetitive cartel. In ... The Ninth Circuit Rescues the Government Raisin Cartel
Lambert and Sykuta Talk Tesla in the Kansas City Star
Mike Sykuta and I, both proud Missourians, recently took to the opinion section of the Kansas City Star to discuss pending state legislation that would bar automobile manufacturers from operating their own retail outlets in the Show Me state. The immediate target of the bill is Tesla, but the bigger concern of the auto dealers, who drafted the statutory language we criticize, ... Lambert and Sykuta Talk Tesla in the Kansas City Star
That startup investors’ letter on net neutrality is a revealing look at what the debate is really about
Last week a group of startup investors wrote a letter to protest what they assume FCC Chairman Tom Wheeler’s proposed, revised Open Internet NPRM will say. Bear in mind that an NPRM is a proposal, not a final rule, and its issuance starts a public comment period. Bear in mind, as well, that the proposal ... That startup investors’ letter on net neutrality is a revealing look at what the debate is really about
