Showing results for: “price gouging”
Varney's comments from the DOJ/USDA hearings [#dojusda #agworkshop]
The DOJ has posted the transcript from the recent DOJ/USDA hearings on antitrust in agriculture here. I figured our readers might be especially interested in seeing Christine Varney’s comments (especially without having to slog through all 350 pages to find them!). I have bolded some of the most interesting parts of her comments. As a ... Varney's comments from the DOJ/USDA hearings [#dojusda #agworkshop]
Politically-Mandated Credit Card Interchange Fees Won’t Create Jobs (But They Will Hurt Consumers and the Economy)
by Geoffrey A. Manne, Joshua D. Wright and Todd J. Zywicki Cross-posted at Business in the Beltway (at Forbes.com) and The Volokh Conspiracy. In a recent commentary at Forbes.com, former Clinton administration economist Robert Shapiro argues that some 250,000 jobs would be created, and consumers would save $27 billion annually, by reducing the interchange fee ... Politically-Mandated Credit Card Interchange Fees Won’t Create Jobs (But They Will Hurt Consumers and the Economy)
Leegin Legislation Update
A Senate panel approved the Leegin Bill on a voice vote (HT: Main Justice). The story behind the link suggests that there is some Republican opposition brewing. I suspect there will be hearings. The Bill’s findings make the following two observations: (3) Many economic studies showed that the rule against resale price maintenance led to ... Leegin Legislation Update
Coke, Pepsi, Product Promotion and the Efficiencies of Vertical Integration
The soda industry is trending toward vertical integration, which Coke and Pepsi acquiring their largest bottlers. From the WSJ: Coke and PepsiCo sell concentrate to bottlers, which then bottle and distribute the soft drinks in their territories. Many of these smaller bottlers are small businesses that have been run by family members for decades and ... Coke, Pepsi, Product Promotion and the Efficiencies of Vertical Integration
An Honest Question for Obamacare Supporters
A number of opponents of Obamacare, such as Wall Street Journal columnist William McGurn, have criticized the President and his people for referring to pending proposals as “health insurance reform” rather than “health care reform.” I suppose these critics think the President is engaging in a sleight of hand in an effort to minimize the ... An Honest Question for Obamacare Supporters
The Enforcers [#agworkshop] [#dojusda]
To expand on Geoff’s post about concentration in the seed industry, there has been a consistent line of discussion throughout the day raising the specter of monopoly and anti-competitive behavior, not only in seed but also in livestock. There are continual references to adverse price effects and limitations in choice for consumers and producers alike, ... The Enforcers [#agworkshop] [#dojusda]
On seed industry concentration and its claimed effects [#dojusda #agworkshop]
A common theme throughout the day has been the declining number of seed companies–increasing concentration–and its effect. Except no one has talked about the effect. Other than pointing to the structural change itself, no one seems to have any evidence relating to the effect of the change. One farmer at the open mic session (coincidentally ... On seed industry concentration and its claimed effects [#dojusda #agworkshop]
Why Citizens United was right
Let me say at the outset, some of my prior beliefs. First, I believe in the marketplace of ideas and think that more speech is generally better than less speech. I believe the Founders shared this belief and enshrined it in the “no law” component of the First Amendment. I believe this is especially true ... Why Citizens United was right
Economics versus politics in antitrust [#agworkshop]
Bill Northey, IA Ag Sec’y, sounds a bit like an economist (ah, turns out he has a degree in ag business and an MBA . . . ). Yes, price of seeds has gone up, but so has yield, and so has overall value. The issue, he says, is how to divide the surplus, and ... Economics versus politics in antitrust [#agworkshop]
Some political theater [#agworkshop]
As readers may know, Eric Holder was added to the workshop at the last minute (see the latest agenda here). So the day starts out with Holder and Vilsack, and they are joined by Varney and Tom Miller (the Iowa AG) and a host of other politicos including Senator Grassley and Congressman Boswell. Vilsack is ... Some political theater [#agworkshop]
A global warming hypothetical
Global warming critics have taken two primary approaches. First, deny the facts based on the incentives for scientists to fudge the data to get prestige and research dollars (see, for example, the East Anglia emails), based on the inherent limitations of humans to build global weather models to predict the temperature 100 years from now, ... A global warming hypothetical
Credit derivatives don’t kill countries, politicians do
Looking for something to blame for the Greek debt crisis, some observers are pointing their fingers at credit derivatives. An article in yesterday’s New York Times makes the case that credit default swaps (CDS), and specifically their sale by Goldman Sachs, are somewhat to blame in part for Greece’s problems. As I explain in this ... Credit derivatives don’t kill countries, politicians do
