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Showing archive for:  “Truth on the Market”

When Progress Is Regressive: The Ordo-Brandeisian Devolution

It is no coincidence that ordoliberalism—the European (originally German) alternative to classical liberalism that emphasized the importance of the “social market” economy—and the New Brandeis or “neo-Brandeisian” movement, which harkens back to the Progressive Era thought of the late U.S. Supreme Court Justice Louis Brandeis, both are enjoying comebacks simultaneously. The effects of these ideological ... When Progress Is Regressive: The Ordo-Brandeisian Devolution

Biden’s AI Executive Order Sees Dangers Around Every Virtual Corner

Here in New Jersey, where I live, the day before Halloween is commonly celebrated as “Mischief Night,” an evening of adolescent revelry and light vandalism that typically includes hurling copious quantities of eggs and toilet paper. It is perhaps fitting, therefore, that President Joe Biden chose Oct. 30 to sign a sweeping executive order (EO) ... Biden’s AI Executive Order Sees Dangers Around Every Virtual Corner

Market Power as a Limiting Principle in Merger Enforcement

One of the most important changes in the Federal Trade Commission (FTC) and U.S. Justice Department’s (DOJ) draft merger guidelines is the abandonment of market power as the central element of merger enforcement. The “unifying theme” of the 2010 horizontal merger guidelines was that “mergers should not be permitted to create, enhance, or entrench market ... Market Power as a Limiting Principle in Merger Enforcement

Why Armen Alchian Is the GOAT

Tyler Cowen has a new online book out titled “GOAT: Who is the Greatest Economist of All Time, and Why Does it Matter?” While there are potential problems in treating ideas like basketball, the project is a fun, fast read overall. As the author of a newsletter with frequent gifs, I’m all for encouraging light-hearted ... Why Armen Alchian Is the GOAT

Shining the Light of Economics on the Google Case

The U.S. Justice Department has presented its evidence in the antitrust case alleging that Google unlawfully maintained a monopoly over “general search services” by “lock[ing] up distribution channels” through “exclusionary agreements” with makers and marketers of devices. Google’s agreements with Apple, for example, have made its search engine the default in Apple’s Safari browser. The ... Shining the Light of Economics on the Google Case

Is Amazon’s Scale a Harm?

Under the leadership of its professional anti-Amazoner Chair Lina Khan, the Federal Trade Commission (FTC) has finally filed its antitrust complaint against Amazon. No, not the complaint about how it’s unfair to take six clicks to cancel your Prime membership. This is the big one. It mostly revolves around sellers needing to use Amazon’s fulfillment ... Is Amazon’s Scale a Harm?

Competition in the Low-Earth-Orbit Satellite Industry

Amazon on Friday launched its first two prototype satellites for its planned Project Kuiper internet-satellite network. It was the latest milestone in the rapid evolution of the low-Earth-orbit (LEO) satellite industry, with companies like SpaceX and OneWeb joining Project Kuiper in launching thousands of satellites to provide broadband internet access globally. As this nascent industry ... Competition in the Low-Earth-Orbit Satellite Industry

Draft Merger Guidelines Do Not ‘Return Antitrust to a Sound Economic and Legal Foundation’ – A Response to Professor Kwoka

In a recently published article in ProMarket, John Kwoka of Northeastern University (who “worked on the draft Merger Guidelines while serving at the Federal Trade Commission as chief economist to the chair in 2022”) asserts that the U.S. Justice Department (DOJ) and Federal Trade Commission’s (FTC) draft merger guidelines aim to improve “deficient merger enforcement” ... Draft Merger Guidelines Do Not ‘Return Antitrust to a Sound Economic and Legal Foundation’ – A Response to Professor Kwoka

How ETNO’s ‘Fair Share’ Proposal Threatens Europe’s Digital Future:

The digital transformation of Europe—and, indeed, the world—has been a defining theme of the 21st century. As with all significant shifts, it has also come with its share of challenges, opportunities, and controversies.  One such controversy that has recently reemerged is the so-called “fair share” proposal for network traffic—championed most recently in a statement from ... How ETNO’s ‘Fair Share’ Proposal Threatens Europe’s Digital Future:

The Modern Video Marketplace Does Not Need Help From the FCC

The Federal Communications Commission (FCC) is no stranger to undertaking controversial and potentially counterproductive regulatory projects. The commission’s digital-discrimination proceeding is expected to continue in November, and FCC Chair Jessica Rosenworcel just announced that the FCC will revive the warmed-over corpse of the 2015 Open Internet Order. This latter item highlights how the FCC’s Democratic ... The Modern Video Marketplace Does Not Need Help From the FCC

Health Care and Health Insurance Merger Retrospective: A Personal Law & Economics Experience

My colleagues at the International Center for Law & Economics (ICLE) often engage not only in excellent analysis of proposed mergers and acquisitions, but also have been known to offer retrospectives on past mergers. Today, I want to offer a very personal version of this.  A little background: on June 3, 2022, I was diagnosed ... Health Care and Health Insurance Merger Retrospective: A Personal Law & Economics Experience

What Does NetChoice v. Bonta Mean for KOSA and Other Attempts to Protect Children Online?

With yet another win for NetChoice in the U.S. District Court for the Northern District of California—this time a preliminary injunction granted against California’s Age Appropriate Design Code (AADC)—it is worth asking what this means for the federally proposed Kids Online Safety Act (KOSA) and other laws of similar import that have been considered in ... What Does NetChoice v. Bonta Mean for KOSA and Other Attempts to Protect Children Online?