Showing archive for: “International Trade”
Production and Free Trade in the Wake of Covid-19 – Setting New Trade Trends for Future Economies
At a time when nations are engaged in bidding wars in the worldwide market to alleviate the shortages of critical medical necessities for the Covid-19 crisis, it certainly bares the question, have free trade and competition policies resulting in efficient global integrated market networks gone too far? Did economists and policy makers advocating for efficient ... Production and Free Trade in the Wake of Covid-19 – Setting New Trade Trends for Future Economies
The Virulence of Free Trade
[TOTM: The following is part of a blog series by TOTM guests and authors on the law, economics, and policy of the ongoing COVID-19 pandemic. The entire series of posts is available here. This post is authored by Ramsi Woodcock, (Assistant Professor of Law, University of Kentucky; Assistant Professor of Management, Gatton College of Business ... The Virulence of Free Trade
Why the FTC had to Abandon the Duty to Deal Argument Against Qualcomm
On November 22, the FTC filed its answering brief in the FTC v. Qualcomm litigation. As we’ve noted before, it has always seemed a little odd that the current FTC is so vigorously pursuing this case, given some of the precedents it might set and the Commission majority’s apparent views on such issues. But this ... Why the FTC had to Abandon the Duty to Deal Argument Against Qualcomm
Efficient Cartels and the Public Interest Defence – Do They Exist?
The concept of a “good” or “efficient” cartel is generally regarded by competition authorities as an oxymoron. A cartel is seen as the worst type of antitrust violation and one that warrants zero tolerance. Agreements between competitors to raise prices and share the market are assumed unambiguously to reduce economic welfare. As such, even if ... Efficient Cartels and the Public Interest Defence – Do They Exist?
The EU’s Google Android antitrust decision falls prey to the nirvana fallacy
Today the European Commission launched its latest salvo against Google, issuing a decision in its three-year antitrust investigation into the company’s agreements for distribution of the Android mobile operating system. The massive fine levied by the Commission will dominate the headlines, but the underlying legal theory and proposed remedies are just as notable — and ... The EU’s Google Android antitrust decision falls prey to the nirvana fallacy
The Tariff Act is indeed protectionist — and that’s how Congress wants it
Although not always front page news, International Trade Commission (“ITC”) decisions can have major impacts on trade policy and antitrust law. Scott Kieff, a former ITC Commissioner, recently published a thoughtful analysis of Certain Carbon and Alloy Steel Products — a potentially important ITC investigation that implicates the intersection of these two policy areas. Scott was ... The Tariff Act is indeed protectionist — and that’s how Congress wants it
The illiberal vision of neo-Brandeisian antitrust
Following is the (slightly expanded and edited) text of my remarks from the panel, Antitrust and the Tech Industry: What Is at Stake?, hosted last Thursday by CCIA. Bruce Hoffman (keynote), Bill Kovacic, Nicolas Petit, and Christine Caffarra also spoke. If we’re lucky Bruce will post his remarks on the FTC website; they were very ... The illiberal vision of neo-Brandeisian antitrust
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
A Pro-Free Market Approach to Brexit Negotiations Is Key
The terms of the United Kingdom’s (UK) exit from the European Union (EU) – “Brexit” – are of great significance not just to UK and EU citizens, but for those in the United States and around the world who value economic liberty (see my Heritage Foundation memorandum giving the reasons why, here). If Brexit is ... A Pro-Free Market Approach to Brexit Negotiations Is Key
2018 Edition of the Heritage Foundation’s Index of Economic Freedom: Freedom to Trade Is a Key to Prosperity
The latest rankings of trade freedom around the world will be set forth and assessed in the 24th annual edition of the Heritage Foundation annual Index of Economic Freedom (Index), which will be published in January 2018. Today Heritage published a sneak preview of the 2018 Index’s analysis of freedom to trade, which merits public ... 2018 Edition of the Heritage Foundation’s Index of Economic Freedom: Freedom to Trade Is a Key to Prosperity
Developing an Economically Efficient American Trade Policy to Deal with Distortionary Government Subsidies: Brexit and Beyond
U.S. international trade law has various statutory mechanisms to deal with unfair competition. Regrettably, American trade law (and, for that matter, the trade laws of other nations) has a history of being deployed in a mercantilist fashion to further the interests of American producer interests, rather than consumer interests and aggregate economic welfare. That need ... Developing an Economically Efficient American Trade Policy to Deal with Distortionary Government Subsidies: Brexit and Beyond
The European Commission’s Regrettable June 27 Google Antitrust Decision – and Its Broader Implications
Today I published an article in The Daily Signal bemoaning the European Commission’s June 27 decision to fine Google $2.7 billion for engaging in procompetitive, consumer welfare-enhancing conduct. The article is reproduced below (internal hyperlinks omitted), in italics: On June 27, the European Commission—Europe’s antitrust enforcer—fined Google over $2.7 billion for a supposed violation of ... The European Commission’s Regrettable June 27 Google Antitrust Decision – and Its Broader Implications
