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Congress enables a start-up
The WSJ reports on the sad state of venture capital: [F]und raising has now come to a near halt. Thomson Reuters estimates U.S. venture-capital funds raised just $1.9 billion in the second quarter. By...
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Markets are incremental; Obamacare is not
Watching Obamacare dissolve in a morass of legal challenges and waivers points out another benefit of markets. Markets proceed incrementally. The Internet has made a huge difference in all of our...
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Atlas Shrugged
Just saw Atlas Shrugged. Very good — better than I thought. Highly recommended. Filed under: entrepreneurship
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Keynes vs. Hayek, Round II
Another of Russ Roberts’ and John Papola’s brilliant ”Keynes vs. Hayek” rap videos is now online. (If you missed the first one, it’s here.) Whereas the first video focused largely on monetary policy,...
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Welcome Baby 7B!
According to the United Nations, sometime around Halloween a newborn baby will push the world’s population above seven billion people. Welcome to our spectacular planet, Little One! I should warn you...
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Where have all the IPOs gone?
Ritter, Gao and Zhu ask, Where have all the IPOs Gone? Well, not to young men everywhere, but to the older men and women who run the big companies that have replaced public markets as the key venture...
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Hating Capitalism
One topic that has long interested me is the source of dislike or hatred of capitalism; my Southern Economics Journal article “Folk Economics” (ungated version) dealt in part with this topic. Today’s...
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Ginsburg & Wright on Dynamic Analysis and the Limits of Antitrust Institutions
Judge Douglas Ginsburg (D.C. Circuit Court of Appeals; NYU Law) and I have posted “Dynamic Antitrust and the Limits of Antitrust Institutions” to SSRN. Our article is forthcoming in Volume 78 (2) of...
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Epstein on Posner’s “Patent Adventurism” in Apple v. Motorola
Richard Epstein replies to Judge Posner’s Apple v. Motorola opinion and follow-up article in The Atlantic. The anti-patent sentiment has just been fueled by a remarkable opinion by Judge Richard...
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That startup investors’ letter on net neutrality is a revealing look at what...
Last week a group of startup investors wrote a letter to protest what they assume FCC Chairman Tom Wheeler’s proposed, revised Open Internet NPRM will say. Bear in mind that an NPRM is a proposal, not...
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Enterprise Cities, Competition, and Economic Growth
Shanker Singham of the Babson Global Institute (formerly a leading international trade lawyer and author of the most comprehensive one-volume work on the interplay between competition and international...
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Blog symposium on the Apple e-books antitrust case: Implications for...
The Apple E-Books Antitrust Case: Implications for Antitrust Law and for the Economy February 15, 2016 truthonthemarket.com The appellate court’s 2015 decision affirming the district court’s finding of...
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Significant Impediment To Industry Innovation: A novel theory of harm in EU...
Thanks to Truth on the Market for the opportunity to guest blog, and to ICLE for inviting me to join as a Senior Scholar! I’m honoured to be involved with both of these august organizations. In...
View ArticleCongress enables a start-up
The WSJ reports on the sad state of venture capital: [F]und raising has now come to a near halt. Thomson Reuters estimates U.S. venture-capital funds raised just $1.9 billion in the second quarter. By...
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Kochland: An Inadvertent Paean to the Glories of the Free Market
A recently published book, “Kochland – The Secret History of Koch Industries and Corporate Power in America” by Christopher Leonard, presents a gripping account of relentless innovation and the power...
View ArticleCOVID-19 Vaccines Show the Patent System Works
With the COVID-19 vaccine made by Moderna joining the one from Pfizer and BioNTech in gaining approval from the U.S. Food and Drug Administration, it should be time to celebrate the U.S. system of...
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Ajit Pai and Risk-Taking at the FCC
[TOTM: The following is part of a digital symposium by TOTM guests and authors on the legal and regulatory issues that arose during Ajit Pai’s tenure as chairman of the Federal Communications...
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What You Need to Know About the EU’s New AI Regulation
The European Commission this week published its proposed Artificial Intelligence Regulation, setting out new rules for “artificial intelligence systems” used within the European Union. The...
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Breaking Down House Democrats’ Forthcoming Competition Bills
Democratic leadership of the House Judiciary Committee have leaked the approach they plan to take to revise U.S. antitrust law and enforcement, with a particular focus on digital platforms. Broadly...
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The Virtues and Pitfalls of Economic Models
Interrogations concerning the role that economic theory should play in policy decisions are nothing new. Milton Friedman famously drew a distinction between “positive” and “normative” economics,...
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