Showing archive for: “Collusion & Cartels”
New Paper Reveals “Stealth” Consolidation But Competitive Effects Remain Hidden
Thomas Wollmann has a new paper — “Stealth Consolidation: Evidence from an Amendment to the Hart-Scott-Rodino Act” — in American Economic Review: Insights this month. Greg Ip included this research in an article for the WSJ in which he claims that “competition has declined and corporate concentration risen through acquisitions often too small to draw ... New Paper Reveals “Stealth” Consolidation But Competitive Effects Remain Hidden
Boom, bust, and collusion: Does it really matter?
A recent working paper by Hashmat Khan and Matthew Strathearn attempts to empirically link anticompetitive collusion to the boom and bust cycles of the economy. The level of collusion is higher during a boom relative to a recession as collusion occurs more frequently when demand is increasing (entering into a collusive arrangement is more profitable ... Boom, bust, and collusion: Does it really matter?
The International Competition Network at Seventeen
Introduction Last week I attended the 17th Annual Conference of the International Competition Network (ICN) held in New Delhi, India from March 21-23. The Delhi Conference highlighted the key role of the ICN in promoting global convergence toward “best practices” in substantive and procedural antitrust analysis by national antitrust (“competition”) agencies. The ICN operates as ... The International Competition Network at Seventeen
Foreign Export Cartels, Comity, and the Separation of Powers
Over the last two decades, the United States government has taken the lead in convincing jurisdictions around the world to outlaw “hard core” cartel conduct. Such cartel activity reduces economic welfare by artificially fixing prices and reducing the output of affected goods and services. At the same, the United States has acted to promote international ... Foreign Export Cartels, Comity, and the Separation of Powers
Fourth Annual Heritage Foundation Antitrust Conference: A Quick Summary
On January 23rd, the Heritage Foundation convened its Fourth Annual Antitrust Conference, “Trump Antitrust Policy after One Year.” The entire Conference can be viewed online (here). The Conference featured a keynote speech, followed by three separate panels that addressed developments at the Federal Trade Commission (FTC), at the Justice Department’s Antitrust Division (DOJ), and in ... Fourth Annual Heritage Foundation Antitrust Conference: A Quick Summary
The Unreasonable Demands of Antitrust Populism
A panelist brought up an interesting tongue-in-cheek observation about the rising populist antitrust movement at a Heritage antitrust event this week. To the extent that the new populist antitrust movement is broadly concerned about effects on labor and wage depression, then, in principle, it should also be friendly to cartels. Although counterintuitive, employees have long ... The Unreasonable Demands of Antitrust Populism
The antitrust laws are not some meta-legislation authorizing whatever regulation activists want: Labor market edition
In a recent post at the (appallingly misnamed) ProMarket blog (the blog of the Stigler Center at the University of Chicago Booth School of Business — George Stigler is rolling in his grave…), Marshall Steinbaum keeps alive the hipster-antitrust assertion that lax antitrust enforcement — this time in the labor market — is to blame ... The antitrust laws are not some meta-legislation authorizing whatever regulation activists want: Labor market edition
Democratic Party “Better Deal” Antitrust Proposals Would be a “Worse Deal” for the American Economy and Consumers
On July 24, as part of their newly-announced “Better Deal” campaign, congressional Democrats released an antitrust proposal (“Better Deal Antitrust Proposal” or BDAP) entitled “Cracking Down on Corporate Monopolies and the Abuse of Economic and Political Power.” Unfortunately, this antitrust tract is really an “Old Deal” screed that rehashes long-discredited ideas about “bigness is badness” ... Democratic Party “Better Deal” Antitrust Proposals Would be a “Worse Deal” for the American Economy and Consumers
Introducing TOTM’s newest blogger and ICLE’s new chief economist, Eric Fruits
We’re delighted to welcome Eric Fruits as our newest blogger at Truth on the Market. Eric Fruits, Ph.D. is the Oregon Association of Realtors Faculty Fellow at Portland State University and the recently minted Chief Economist at the International Center for Law & Economics. Among other things, Dr. Fruits is an antitrust expert, with particular expertise ... Introducing TOTM’s newest blogger and ICLE’s new chief economist, Eric Fruits
ICN Advocacy Workshop a Success
On November 1st and 2nd, Cofece, the Mexican Competition Agency, hosted an International Competition Network (ICN) workshop on competition advocacy, featuring presentations from government agency officials, think tanks, and international organizations. The workshop highlighted the excellent work that the ICN has done in supporting efforts to curb the most serious source of harm to the ... ICN Advocacy Workshop a Success
Two Helpful Developments Aimed at Curbing Anticompetitive Protectionist Occupational Licensing Restrictions – Harbingers of Reform?
Background Recently, an increasing amount of scholarship has focused on the excessive costs of occupational licensing, which too frequently serves merely as a protectionist state-created barrier to entry that arbitrarily prevents individuals (and, in particular, low-income individuals) from earning a living in their chosen field. A 2015 White House report explains that occupational licensing restrictions ... Two Helpful Developments Aimed at Curbing Anticompetitive Protectionist Occupational Licensing Restrictions – Harbingers of Reform?
Reflections on the International Competition Network (ICN) at 15: Steady Progress and Major Long-Term Challenges
Introduction In my role as a “non-governmental advisor” (NGA), I was privileged to attend and participate actively in the 15th Annual ICN Conference, held in Singapore from April 26-29. (I have blogged previously on ICN annual conferences and policy initiatives, see here, here, and here.) As a virtual network of national competition law agencies (“national ... Reflections on the International Competition Network (ICN) at 15: Steady Progress and Major Long-Term Challenges
