Tag: Monopoly and Antitrust

Felonious Massage »

The Wall Street Journal reports that the State of Michigan will soon make practicing massage without a license a felony. In the age of Yelp, why the explosion of state licensure? After all, if a masseuse is no good, word will soon get around, and it’s difficult to comprehend, in any event, just how...
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Can Markets Provide Police Services? »

While Americans spend a lot of money on private security, we generally associate police services with a local government monopoly. And indeed, government is where the buck stops. One of the conventional rationales for government provision of police services is that the market will under-provide it. After all, if I subscribe to a protection...
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Dave Barry’s Review of the Year 2009 »

Syndicated columnist and bestselling author Dave Barry’s provides an incisive and hilarious, month-by-month review of the year 2009, “Dave Barry’s year in review: 2009.” As he begins: It was a year of Hope—at first in the sense of “I feel hopeful!” and later in the sense of “I hope this year ends soon!” It...
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Three Views on Profit »

My semester is over and I’ve just turned in my grades. One of the courses I taught this term was “History of Economic Ideas,” and one of my final examination questions asked students to compare the views of Karl Marx and Joseph Schumpeter with the Marshallian-neoclassical view on profit. These views are very relevant...
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Antitrust Law: Another Bizarro World »

Peter Klein’s post about the bizarro world in which the SEC prefers not to define insider trading too carefully, lest that definition cramp the government’s prosecutorial style, reminds me of the similarly vague definition of price fixing for purposes of enforcing the antitrust laws. The best acccount I have seen of this matter comes from R....
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Make Summer Vacation Exciting and Enlightening! »

Attention High-school Students & College Undergrads: Don’t let your intellect atrophy! Make summer vacation a time to delve into new subjects or to probe topics that have sounded intriguing to you. The Challenge of Liberty Summer Seminar explores economics, liberty, and society using lectures, discussion, directed reading, and multimedia presentations. Students consistently give our...
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Stop Bailing Out Government Schools »

Across the country, politicians are responding to the inability of a population devastated by government-induced recession to support governments’ spending at levels they have grown accustomed to by threatening the closure of schools, firehouses, and other high-profile, highly-valued government “services.” I have opined elsewhere on the reasons that such high-profile programs—rather than the thousands...
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Franklin Roosevelt Rerevisionism »

Franklin Roosevelt biographer Conrad Black has a new article championing the 32nd president, and defending the man’s legacy against a number of critiques that have emerged since his time in office. This article comes at a time when many are demanding “another New Deal” and a resurgence in Rooseveltian governance in general. An interesting...
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FEMA’s Expansion Threatens Charitable Competition »

In 2003, in the aftermath of 9/11, the Federal Emergency Management Agency (FEMA) was placed under the Department of Homeland Security. The disastrous aftermath of Hurricane Katrina two years later marked the first test of the new FEMA, and there is widespread agreement that the agency utterly failed. Much of the tragedy following Katrina...
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The Onion Understands Antitrust »

An oldie but goodie from the Onion, which every day becomes harder to distinguish from, say, the Washington Post. I owe Josh Wright the reminder. A nice complement to R. W. Grant’s Tom Smith and His Incredible Bread Machine, with its classic stanzas: Now let me state the present rules,” The lawyer then went...
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