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Last Entry: April 01, 2011 at 00:51:38

“Goldman reports $1.8 billion profit”

Posted on April 13, 2009
Cnn.com tells us the good news that “Goldman reports $1.8 billion profit,” but the totality of the information in the cnn.com article strikes me as mildly curious. While announcing that “Goldman reports $1.8 billion profit,” the article points out that Goldman needed $10 B in TARP funds only a few months ago...

Dont Call It A Comeback

Posted on April 12, 2009
When I came onto the job market in 2004, a number of advisers told me that I should not market myself as an ?antitrust guy.? The prevailing view on the job market was that ?antitrust was dead.? This perception was conveyed one way or another in interviews or conversations with folks in the legal academy...

GMU/Microsoft Conference on the Law & Economics of Innovation

Posted on April 12, 2009
For the third year, Josh and I have organized the annual George Mason Law School/Microsoft Conference on the Law and Economics of Innovation. The conference is at the Arlington Hilton on May 7; registration is free. This year’s conference is on “Online Markets vs...

Shelanski from Berkeley to Georgetown

Posted on April 09, 2009
Congratulations to Professor Shelanski (HT: Brian Leiter). Berkeley’s strength in antitrust is impressive. Note that even with the likely departures of Joe Farrell (FTC Bureau of Economics), Carl Shapiro (DOJ) and Shelanski (Georgetown, and maybe into the administration?), the group still includes at least Dan Rubinfeld and Aaron Edlin and should still be considered amongst [...

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My interview with Bill Isaac

Posted on April 08, 2009
Over at finreg21–a new site devoted to news, analysis and commentary on financial regulatory reform with which I am affiliated–I interview Bill Isaac, former Chairman of the FDIC (during the savings and loan crisis). We talk about his views on mark to market accounting and his testimony before congress (and a smidge about his views [...

Is the Chicago School Really Dead? How Do You Know?

Posted on April 08, 2009
Answer: not by a long shot. Not in the Supreme Court. Not in the empirical economics literature. But perhaps according to at least one FTC Commissioner in the new FTC annual report: Commissioner J. Thomas Rosch believes the current financial crisis has undermined the Chicago school of economics that has so heavily influenced antitrust enforcement over [...

The Future of Empirical Legal Scholarship

Posted on April 07, 2009
Thoughts from John Pfaff (Fordham) here and here. And here is an excerpt from his first post laying out some of the problems and challenges facing the empirical legal studies movement: So what are the problems we face? 1. An explosion in empirical work...

TOTM Symposium Wrap Up

Posted on April 04, 2009
I’d like to formally thank Mike Carrier, Geoff Manne, Phil Weiser, Dan Crane, Brett Frischmann, Scott Kieff and Dennis Crouch for participating in the first TOTM symposium on Mike’s book: Innovation for the 21st Century: Harnessing the Power of Intellectual Property and Antitrust Law...

Did the Chicago School Overshoot the Mark?

Posted on April 03, 2009
I’ve posted to SSRN a new essay entitled Overshot the Mark? A Simple Explanation of the Chicago School’s Influence on Antitrust. It is a book review of Robert Pitofsky’s recent volume How the Chicago School Overshot the Mark: The effect of Conservative Economic Analysis on U...

The Cousins Recruiting Saga Continues (Again)

Posted on April 02, 2009
It wasn’t too long ago that I blogged about the purported end of the Demarcus Cousins saga. For TOTM readers that want to catch up to speed, here is how things stood about a month ago: For those who haven?t, Cousins is a blue chip high school basketball recruit who has been bargaining hard with the [...

Professor Carrier’s Response

Posted on April 01, 2009
First of all, I would like to express my deepest gratitude to Josh Wright. Only because of Josh?s creativity and tireless, flawless execution did this blog symposium come about and run so smoothly. I also would like to thank Dennis Crouch, who has generously cross-posted the symposium at PatentlyO...

The other shoe

Posted on April 01, 2009
Michael Carrier’s response to the symposium contributions will be up a bit later today. We’re all anxious to see his remarks, so be sure to check back soon!

Kieff on Carrier’s Innovation in the 21st Century

Posted on March 31, 2009
This post is from F. Scott Kieff (Wash U./ Hoover) I, too, join the rest of the participants in congratulating Michael Carrier on this great book about this great topic. I have enjoyed reading Michael?s work in the past and I enjoyed meeting him at a conference last year...

Frischmann on Carrier’s Innovation in the 21st Century

Posted on March 31, 2009
This post is from Brett Frischmann (Loyola/ Cornell (Visiting)) I enjoyed reading Mike?s book very much. It provides an excellent primer on antitrust, IP, and innovation. He synthesizes the legal and economic foundations, contours, and controversies in an accessible fashion...

Crouch on Carrier’s Innovation in the 21st Century

Posted on March 31, 2009
This post is from Dennis Crouch(Missouri/PatentlyO) I am enjoying Professor Carrier’s new book Innovation in the 21st Century: Harnessing the Power of Intellectual Property and Antitrust Law. I will focus my discussion here on patent issues discussed in Part III of the book...

Crane on Carrier’s Innovation in the 21st Century

Posted on March 30, 2009
Congratulations to Mike on a very fine book, which I must admit I am still in the process of digesting. I will confine my initial comments to Mike?s chapter on patent settlements (Chapter 15), which I understand will also be coming out as an article in the Michigan Law Review...

Welcome to the 1st TOTM Blog Symposium on Michael Carrier’s Innovation in the 21st Century: Harnessing the Power of Intellectual Property and Antitrust Law

Posted on March 30, 2009
Welcome to the first TOTM Blog Symposium. This is a format we hope to make more use of on TOTM in the future and we?ve got an ideal project to start with. For the next two days (and maybe three) we?ll be discussing Professor Michael Carrier?s (Rutgers) forthcoming book: Innovation for the 21st Century: Harnessing [...

Wright on Carrier’s Innovation in the 21st Century

Posted on March 30, 2009
First, I want to join the rest of the participants in congratulating Professor Carrier on an excellent and well-written book emerging out of a thoughtful and ambitious project. The project, and the book, are provocative, important contributions to the literature, and usefully synthesize many of the most important debates in both antitrust and intellectual [...

Manne on Carrier’s Innovation in the 21st Century

Posted on March 30, 2009
Michael Carrier has written a timely and interesting book. Like Dan, I?m still digesting it (which means, in translation: I have not yet read every word). There is much to like about the book, in particular its accessible format and content. I do fear that it is a bit overly ambitious, however, hoping both to [...

Weiser on Carrier’s Innovation in the 21st Century

Posted on March 30, 2009
This post is from Phil Weiser (Colorado) It is trite to say that ?we are all Schumpeterians now.? When it comes to appreciating the importance of innovation and entrepreneurship, however, we are. Schumpeter, unfortunately, did not leave a theory of innovation that lends itself to easy application to public policy prescriptions, as Brad De Long [...

Symposium Halftime

Posted on March 30, 2009
We’re halfway through the TOTM symposium on Professor Carrier’s Innovation for the 21st Century: Harnessing the Power of Intellectual Property and Antitrust Law. I’ve provided links to Monday’s posts on the book related to antitrust issues: Dan Crane Phil Weiser Geoff Manne Josh Wright The comments to those posts are still live...

Their Judgment Has Been Otherwise Impeccable

Posted on March 23, 2009
I’m very pleased to announce that starting Fall 2009 I will be a new addition, by way of a courtesy appointment supplementing my primary appointment to the Law School, to the GMU Economics Department. The department has a wonderful reputation (and ranking) in law and economics (amongst other things of course: its entrepreneurial spirit and [...

Capitalism is Good

Posted on March 22, 2009
A friendly reminder from Becker and Murphy: Consider the following extraordinary statistics about the performance of the world economy since 1980. World real gross domestic product grew by about 145 per cent from 1980 to 2007, or by an average of roughly 3...

Antitrust Pleading After Twombly

Posted on March 22, 2009
Here’s a report from Shearman & Stearling (HT: Point of Law). A few interesting highlights from the report: “federal courts are granting, at almost a 2:1 ratio, defendants? motions to dismiss.” Sample sizes still too small to say anything meaningful about inter-Circuit variation, but the report tells us that the D...

AIG Isn’t Too Big Too Fail

Posted on March 20, 2009
So says Lucian Bebchuk in the WSJ: While AIG has thus far been able to cover derivative losses using government funds, the possibility of large additional losses must be recognized. AIG recently stated that it still has about $1.6 trillion in “notional derivatives exposure...

ABA Spring Meetings

Posted on March 20, 2009
I’ll be in DC next week for the ABA Spring Meetings — including teaching an antitrust fundamentals course on basic economic principles on Wednesday morning (along with co-panelists Andrew Gavil (Howard), Erika Brown-Lee (FTC). One of the panels I’m most interested in watching is the Friday morning enforcers roundtable which looks like it will feature [...

JLE = UVA Law Review?

Posted on March 20, 2009
Brian Leiter put together an interesting survey on the “top 20″ highest quality publishers of legal scholarship. Here are the top 10: 1. Harvard Law Review (Condorcet winner: wins contests with all other choices) 2. Yale Law Journal loses to Harvard Law Review by 112?66 3...

Congrats Professor Crane

Posted on March 20, 2009
Let me join Danny Sokol in congratulating Dan Crane in accepting a lateral offer at the University of Michigan. Dan is one the clearest antitrust thinkers around and a bright star in the group of younger antitrust law profs. I’m a big fan of his work...

Gabriel on Trinko After Linkline

Posted on March 19, 2009
Manfred Gabriel (Antitrust Review) writes that Linkline extends the reach of Trinko in some important ways: The opinion of the court in Linkline, Chief Justice Roberts writes that Trinko: ? makes clear that if a firm has no antitrust duty to deal with its competitors at wholesale, it certainly has no duty to deal under terms and [...

Free Trade Petition

Posted on March 19, 2009
Atlas Economic Research Foundation is circulating a petition in favor of free trade (HT Sasha Volokh). The plan is to unveil the petition before the April 1 G20 meetings in London. Here is the text of the petition. You can sign it here if you are interested...

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