While two key antitrust issues – a potential Google-FTC settlement & the vote on Wright for the FTC – remain unresolved, we’ve still had lots of activity this month, including record high-fines, SCOTUS tackling reverse payments, the Astra Zeneca decision, and telecom “cartels.” We even ask if law schools are engaged in illegal antitrust activity, and watch Ronald Coase take economists to the wood shed. Have a wonderful Holiday everyone!
Urging Economists to Step Away From the Blackboard Coase argues that … economists began writing for each other, instead of for other disciplines or for the business community. Brendan Greeley (Bloomberg)
Bad Connections: Break Up the Telecom Cartel In practice, though, deregulation has meant new regulations – written by corporations and for corporations – that have often thwarted competition and run roughshod over the customer. David Cay Johnston (New York Times)
Consolidation: A heavyweight contest We self-prevent this kind of operation because we know that if we had the crazy idea to implement in-market consolidation we would be prevented by Europe.” Dan Thomas (Financial Times)
Will SCOTUS Cost You at the Pharmacy? Ultimately, if SCOTUS rules with the majority of the lower courts and allows these types of deals, it will end up costing all of us more when we go to the pharmacy. Doug Ehrman (The Motley Fool)
ECJ’s Judgment in Case C-457/10 P Astra Zeneca The Judgment certainly endorses a wide view of the reach of the “special responsibility” incumbent upon dominant firms. Alfonso Lamadrid (Chillin’Competition)
European antitrust fines: A new wave of deterrence? In particular, the Commission was reported (by Mlex) to have attached some weight to sales outside the EU by cartel members. Mario Mariniello (EurActiv.com)
The Scam Busters How antitrust economists are getting better at spotting cartels. (The Economist)
UK charge toward more cartel prosecutions – but is the price too high? The current economic climate may be not be the best time to be introducing uncertainty into the UK’s competition law regime with the potential to dull legitimate pro-competitive activity. David Went (Kluwer Competition Law Blog)
Quality of Evidence in Complex Merger Cases A review…brings to the fore a number of ways in which the Commission could improve the quality of the evidence which it uses to support its decisions. Frederic Depoortere (Kluwer Competition Law Blog)
Survival of the Biggest Three trends alarm those who think the digital giants are becoming too powerful for consumers’ good. (The Economist)
Are Law Schools Violating Antitrust Law? U.S. law schools may be engaged in anticompetitive (and illegal) practices with regard to lateral recruiting. Jonathan Adler (The Volokh Conspiracy)
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