Ronald Coase part 2: Markets Don’t Fail, They Fail to Exist
12 Oct 2023 Leave a comment
in applied price theory, comparative institutional analysis, economics of regulation, history of economic thought, industrial organisation, law and economics, property rights, Ronald Coase, Ronald Coase, theory of the firm
Quotation of the Day…
07 Oct 2023 Leave a comment
in applied price theory, economic history, history of economic thought, industrial organisation Tags: competition and monopoly, competition law
Tweet… is from page 5 of Gabriel Kolko’s 1963 book, The Triumph of Conservatism: Contrary to the consensus of historians, it was not the existence of monopoly that caused the federal government to intervene in the economy [in the late 19th and early 20th centuries], but the lack of it. DBx: Market competition is astonishingly…
Quotation of the Day…
Why Sweden Isn’t an Example of Socialism
04 Oct 2023 Leave a comment
in economic growth, economic history, economics of regulation, history of economic thought, industrial organisation, labour economics, macroeconomics, welfare reform Tags: Sweden
When I meet Americans who self-identify as “socialists,” it is quite uncommon for them to advocate the abolition of private property and the “collective or governmental ownership and administration of the means of production and distribution of goods”–which is the dictionary definition of socialism. Instead most of the American “socialists” I meet favor a more…
Why Sweden Isn’t an Example of Socialism
Initial Reactions to the Amazon Antitrust Case
28 Sep 2023 Leave a comment
in industrial organisation, law and economics Tags: competition and monopoly, competition law
The Federal Trade Commission and 17 state attorneys general have sued Amazon.com, as the FTC press release says, “alleging that the online retail and technology company is a monopolist that uses a set of interlocking anticompetitive and unfair strategies to illegally maintain its monopoly power.” The FTC complaint filed with the US District Court for…
Initial Reactions to the Amazon Antitrust Case
El Salvador and the elasticity of supply
11 Sep 2023 Leave a comment
in economics of crime, industrial organisation, law and economics
Many of you have written in and asked what I think of president Bukele throwing all those gang members (and possibly others) in jail without much due process. I do hope to learn more about this, including possibly with a trip to El Salvador later this year. In the meantime, I say let’s put aside […]
El Salvador and the elasticity of supply
Creative destruction
09 Sep 2023 Leave a comment
in financial economics, industrial organisation, survivor principle Tags: creative destruction
Creative destruction
06 Sep 2023 Leave a comment
in entrepreneurship, financial economics, industrial organisation Tags: creative destruction
Creative destruction
28 Aug 2023 Leave a comment
in economic history, industrial organisation, television
Creative destruction
21 Aug 2023 Leave a comment
in economic history, industrial organisation Tags: creative destruction
Baby Busts and Bank Crashes: A Conversation with Demographer Nicholas Eb…
20 Aug 2023 Leave a comment
in applied price theory, economic history, financial economics, industrial organisation, international economics, macroeconomics, monetary economics, population economics Tags: baby bust, economics of banking
Benefit-cost analysis without the benefits or the analysis: How not to write Merger Guidelines
20 Aug 2023 Leave a comment
in applied price theory, history of economic thought, industrial organisation, law and economics
NEW PAPER ON SSRN: The wealth-creating engine of capitalism is the movement of assets to higher-valued uses. Our biggest and most valuable assets, and those with the greatest wealth-creating potential are corporations. Antitrust law and practice work to facilitate this movement, while deterring the types of mergers which substantially lessen competition. Previous iterations of the DOJ/FTC Merger…
Benefit-cost analysis without the benefits or the analysis: How not to write Merger Guidelines
Utopia, you are standing in it! 
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