- Laissez-faire is not Social Darwinism.
- An entertaining and enlightening take on the ebook antitrust case from the always thoughtful Holman Jenkins. “Because the 1890 Sherman Act is so sweeping and almost any business arrangement could be read as prohibited, courts understandably evolved a ‘rule of reason’ to distinguish the permissible from the impermissible. Unfortunately, the result has been antitrust as we know it: wild and fluctuating discretion masquerading as law. Retail price maintenance alone has been embraced and dumped so many times by the courts that it must feel like Jennifer Aniston.”
- Was the Titanic tragedy a failure of the regulatory state?
- Competition In Action: Pizza Edition. And then there’s this: “Mr. Kumar said he was contemplating checking with a lawyer to see if there might be a city law that somehow prohibits a business from selling pizza at outlandishly cheap prices.” I’m afraid there probably is.
- Competition In Action: Airline Edition. “In the last three decades, there have been 192 airline bankruptcies. Not coincidentally, fares, adjusted for inflation, are 18 percent lower than in 2000. Forty years ago, a majority of Americans had never taken an airplane trip. Now everyone is more free than ever to move about the country, air travel having been democratized by liberating it from government.”
- Maybe you’ve heard this one. Socialized medicine makes an economy more competitive because businesses aren’t forced to pick up the tab for employee health benefits. Don Boudreaux responds.
- “Week after week, [White House economic adviser Christina] Romer would march in with an estimate of the jobs all the investments in clean energy would produce; week after week, Obama would send her back to check the numbers. ‘I don’t get it,’ he’d say. ‘We make these large-scale investments in infrastructure. What do you mean, there are no jobs?’ But the numbers rarely budged.”