Steve Salop
@stevesalop.bsky.social
Prof of Econ & Law Emeritus, Georgetown Law Antitrust & Competition, IO Econ, Law and Psych Post-Chicago & Still Evolving https://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=68535 https://www.law.georgetown.edu/faculty/steven-c-salop/
This is the most relevant article to NIH and research cuts I’ve seen. Imagine if this was today , how many people would be saying “Why are we studying Gila Monsters and their impact on diabetes ? That’s wasted money !” globalnews.ca/news/9793403...
How a Canadian scientist and a venomous lizard helped pave the way for Ozempic - National | Globalnews.ca
In 1984, Dr. Daniel Drucker, an endocrinologist from the University of Toronto, discovered a hormone that helped pave the way for popular diabetes drugs such as Ozempic.
globalnews.ca
I’d appreciate comments. Will RPGs be next?
ProMarket@promarket.bsky.social · 2y agoNEW: @stevesalop.bsky.social (@georgetownlaw.bsky.social) explores the presumptions and evidence that could undergird Commissioner Melissa Holyoak’s preferred “Raising Rivals’ Cost” approach to the enforcement of the Robinson-Patman Act.
Here is a link to my new article on the raising rivals cost approach to the Robinson Patman Act. www.promarket.org/category/the...
Antitrust and Competition Archives - ProMarket
A key distinction in economic viewpoints that goes oft-unnoticed is between pro-business and pro-market. A good bellwether to where someone stands on the pro-business/market continuum is his/her stanc...
promarket.org
Must read article by Mark Lemley
Mark Lemley@marklemley.bsky.social · 2y agoMy paper "Free the Market: How We Can Save Capitalism from the Capitalists" is now published in the UC Law Journal. I argue that capitalists do everything in their power to prevent competition and market transparency and that we have indulged them too long www.hastingslawjournal.org/free-the-mar...
It sounded like the FTC trial team did not think they had enough time. And on the webinar today, it sounded like they did not have the resources for experts. But given that, they probably should’ve dropped the count. like the way the DOJ should’ve dropped AT&T/TW when they drew Judge Leon.
Does this mean that there is going to be an attempted coup either way? Or at least riots
Philip Bump@pbump.com · 2y agoIn May, Democrats were a lot more likely than Republicans to say the other party’s candidate was too corrupt to be president. Now there’s no difference.
If every older Democrat successfully explains to a younger person that retaining democracy by electing Biden is essential, then it will be. Trump is more entertaining but detention camps and revitalized Russia power will not be.
NEW: Critics of the Federal Trade Commission’s lawsuit last week to block the Kroger-Albertsons #merger claim that the agency incorrectly limits the relevant buyer-side market to unionized #grocery workers. @stevesalop.bsky.social argues that the critics are wrong: www.promarket.org/2024/03/06/t...
The Purchase of Unionized Labor Is a Relevant Buyer-Side Market in the Kroger-Albertsons Merger - ProMarket
Critics of the Federal Trade Commission’s lawsuit last week to block the Kroger-Albertsons merger claim that the agency incorrectly limits the relevant buyer-side market to unionized grocery workers. ...
promarket.org
I'm amused at antitrust lawyers trying to treat the 5th Cir decision in Illumina/Grail as an FTC loss. The Court affirmed the FTC on anticompetitive effects -- a big Win. On the sufficiency of the Illumina's voluntary fix, the Court adopted Comm Wilsons approach, but she rejected that remedy.
Business and economic thought instituted at least since the Reagan Revolution in the US have promoted firms’ narrowly self-interested, profit-maximizing conduct. This paradigm leads to social distrust and insufficient cooperation, @stevesalop.bsky.social explains www.promarket.org/2024/02/13/w...
Why Business Should Be More Prosocial, and Ten Guidelines for How - ProMarket
Business and economic thought instituted at least since the Reagan revolution in the United States have promoted firms’ narrowly self-interested, profit-maximizing conduct even at the expense of consu...
promarket.org
Why has antitrust enforcement declined in the U.S. since the 1970s? Is it due to the preferences of voters, business influence, or an alternative explanation altogether? @jbbecon.bsky.social critiques the big business capture theory and suggests an alternative. www.promarket.org/2024/02/09/h...
Has Antitrust Been Captured by Big Business Interests? It’s Not So Simple - ProMarket
Why has antitrust enforcement declined in the United States since the 1970s? Is it due to the preferences of voters, business influence, or an alternative explanation altogether? In this symposium, Jo...
promarket.org
Elon Musk as Milo Minderbinder -- selling Starlink to both Russian and Ukraine.\ www.defenseone.com/threats/2024...
In my Project Syndicate commentary, I provide updated evidence on how the tight labor market has raised real wages for low and middle wage workers, and why policies by JoeBiden deserve credit. 1/
Credit Bidenomics for Rising US Wages | by Arindrajit Dube - Project Syndicate
Arindrajit Dube explains how the US administration’s proactive fiscal approach has helped boost households’ purchasing power.
project-syndicate.org
Shift in beer consumption from Bars to Home during pandemic
I have finally finished my article, "The 2023 Merger Guidelines: A Post-Chicago and Neo-Brandeisian Integration" for the Review of Industrial Organization symposium. Comments appreciated. papers.ssrn.com/sol3/papers....
Krugman yesterday on "Better than Goldilocks Economy." I wish someone would do a retrospective on Paul vs Larry predictions. @claudiasahm.bsky.social
“Inflation has fallen. Why are groceries still so expensive?” This Washington Post headline writer needs to take a little remedial math course
My latest: Yes, Elon Musk met his Tesla targets. No, he still doesn’t deserve the $56 billion Tesla’s board paid him. Pull up a chair and I’ll explain why not.
That Judge Is Right. Elon Musk Isn’t Worth What Tesla Pays Him.
His compensation package was too comical to survive court.
newrepublic.com
Important Steve Schmidt article on slavery and the new Texas standoff. open.substack.com/pub/stevesch...
Quite a story !! Heads will roll. I hope his is not one of them.
Pretty interesting
Justin Tyndall@justintyndall.bsky.social · 3y agoMy new paper, The effect of front-end vehicle height on pedestrian death risk, was just published at #Economics of #Transportation. I use vehicle design measurements to test for the effect of taller vehicles on pedestrian outcomes in crashes. www.sciencedirect.com/science/arti...
I definitely was not clear. I meant ethical rules for business people that Economists would buy into.
Steve Salop@stevesalop.bsky.social · 3y agoEthical Rules for Economists-1 (Please expand) . 1. Avoid Pareto Inferior outcomes. 2. Don't create or threaten negative externalities. 3. Minimize unavoidable negative externalities; compensate where appropriate. 4. Don't exploit decision-making flaws of lower income - vulnerable consumers
Ethical Rules for Economists-1 (Please expand) . 1. Avoid Pareto Inferior outcomes. 2. Don't create or threaten negative externalities. 3. Minimize unavoidable negative externalities; compensate where appropriate. 4. Don't exploit decision-making flaws of lower income - vulnerable consumers