Showing results for: “digital markets act”
Why Roberts’ Tax Reasoning Ultimately Damns the Affordable Care Act (But Not in a Good Way)
There’s great irony in Chief Justice Roberts’ reasoning in the recent Affordable Care Act ruling. In reading the ACA to impose a tax for failure to carry health insurance, thereby assuring the Act’s constitutionality, Justice Roberts also doomed the Act to failure. Let me explain. As the government repeatedly stressed, the individual mandate (now interpreted as a disjunctive order either to carry health insurance ... Why Roberts’ Tax Reasoning Ultimately Damns the Affordable Care Act (But Not in a Good Way)
Some Skepticism About the Role of Behavioral Economics in the FTC’s Antitrust Analysis
Given the enthusiasm for application of behavioral economics to antitrust analysis from some corners of the Commission and the academy, I found this remark from Alison Oldale at the Federal Trade Commission interesting (Antitrust Source): Behavioral economists are clearly correct in saying that people and firms are not the perfect decision makers using perfect information ... Some Skepticism About the Role of Behavioral Economics in the FTC’s Antitrust Analysis
WSJ Mistake on Holding of Health Care Ruling
Here’s a Letter to the Editor I sent to the Wall Street Journal today: Dear Editor: Today’s front page article, “GOP’s New Health-Law Front,” states that the Supreme Court’s Affordable Care Act ruling “circumvented the issue of whether the law was proper under Congress’s constitutional right to regulate commerce among the states.” That is incorrect. ... WSJ Mistake on Holding of Health Care Ruling
Justice Roberts Disses Economists
I’ve got nothing to add on the substantive merits of today’s big decision – but the following line got my attention: To an economist, perhaps, there is no difference between activity and inactivity; both have measurable economic effects on commerce. But the distinction between doing something and doing nothing would not have been lost on the ... Justice Roberts Disses Economists
Broken Tax Promises
Remember this? How about this?: GEORGE STEPHANOPOULOS: You were against the individual mandate… PRESIDENT OBAMA: Yes. STEPHANOPOULOS: …during the campaign. Under this mandate, the government is forcing people to spend money, fining you if you don’t. How is that not a tax? OBAMA: Well, hold on a second, George. Here — here’s what’s happening. You ... Broken Tax Promises
Who Killed Market Definition?
Louis Kaplow’s Why (Ever) Define Markets? in the Harvard Law Review was one of the most provocative papers in the antitrust literature over the past few years. We’ve discussed it here. I wrote: Kaplow provocatively argues that the entire “market definition/ market share” paradigm of antitrust is misguided and beyond repair. Kaplow describes the exclusive ... Who Killed Market Definition?
SCOTUS Grants Certiorari in Phoebe Putney
From Bloomberg: The U.S. Supreme Court said it will decide whether states can block antitrust scrutiny of hospital mergers such as Phoebe Putney Health System Inc.’s acquisition of Palmyra Park Hospital in Georgia. The justices today said they will hear the Federal Trade Commission’s appeal of a U.S. appellate court ruling that the proposed purchase of HCA Inc.-owned ... SCOTUS Grants Certiorari in Phoebe Putney
Leonhardt on the Age Gap
In today’s New York Times David Leonhardt has a pretty amazing article. He tells us that “polls suggest that Mitt Romney will win a landslide among the over-65 crowd and that President Obama will do likewise among those under 40.” He links to the Gallup Poll for this evidence. ( I generally don’t follow polls; ... Leonhardt on the Age Gap
Economist Kevin Murphy to Charles River Associates
I am very pleased to report that Kevin Murphy – economist extraordinaire, recipient of the MacArthur Fellowship, Bates Clark Medal winner, and of course, fellow UCLA Bruin — has agreed to join Charles River Associates as a Senior Consultant beginning May 2013 when his contract with Navigant Economics expires. As a fellow Senior Consultant at ... Economist Kevin Murphy to Charles River Associates
CPI Interview and Update on Ginsburg & Wrights’ “Antitrust Sanctions”
Competition Policy International has published an interview with Judge Douglas Ginsburg and me following up on our 2010 article “Antitrust Sanctions.” The interview ranges from topics such as whether the Occupy movements impact our proposal for use of debarment as an antitrust sanction in the United States to fairness concerns and global trends in antitrust ... CPI Interview and Update on Ginsburg & Wrights’ “Antitrust Sanctions”
UMG-EMI Deal Is No Threat To Innovation In Music Distribution
Everyone loves to hate record labels. For years, copyright-bashers have ranted about the “Big Labels” trying to thwart new models for distributing music in terms that would make JFK assassination conspiracy theorists blush. Now they’ve turned their sites on the pending merger between Universal Music Group and EMI, insisting the deal would be bad for ... UMG-EMI Deal Is No Threat To Innovation In Music Distribution
Contemplating Disclosure-Based Insider Trading Regulation
TOTM friend Stephen Bainbridge is editing a new book on insider trading. He kindly invited me to contribute a chapter, which I’ve now posted to SSRN (download here). In the chapter, I consider whether a disclosure-based approach might be the best way to regulate insider trading. As law and economics scholars have long recognized, informed stock trading may create both harms and benefits ... Contemplating Disclosure-Based Insider Trading Regulation
