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Crony Capitalism Revisited

There were several letters in today’s Wall Street Journal commenting on my recent op-ed with my son Joe on second best arguments for various forms of crony capitalism. 242 more words

Truth On The Market

From Today's New York Times: Uber and Amazon

The Times seems to specialize in stories that use lots of economics but still miss the important points. Two examples from today: Stories about Uber, and about the dispute between Amazon and Hachette. 427 more words

Truth On The Market

Some Data on the Arab-Israeli Conflict

As another Israeli-Muslim armed conflict begins, it instructive to consider the lethality of previous conflicts.  The best estimate is that about 35,000 Muslims have been killed in all of the Israel-Muslim conflicts since 1948. 78 more words

Truth On The Market

A Cost-Benefit Framework for Antitrust Enforcement Policy

Debates among modern antitrust experts focus primarily on the appropriate indicia of anticompetitive behavior, the particular methodologies that should be applied in assessing such conduct, and the best combination and calibration of antitrust sanctions (fines, jail terms, injunctive relief, cease and desist orders).  1,120 more words

Truth On The Market

From the Wall Street Journal, July 8, 2014, on Crony Capitalism

My son Joe and I have an op-ed in today’s WSJ that should stir up some controversy.

Opinion Wall Street Journal

The Case for Crony Capitalism… 744 more words

Truth On The Market

An Additional Cost of Non-Price Rationing

Today’s (July 5, 2014) New York Times has an interesting story about rationing of water in California.  There are apparently rules in place urging people to cut back on water use, but they are apparently not well enforced.  133 more words

Truth On The Market