Peter G. Klein @petergklein
Professor at @Baylor_Business and @NHHnor, research fellow at @Mises, writing on organizations, entrepreneurship, strategy, and economics. petergklein.com Joined March 2009-
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"Econ has the largest gap between supporting preregistration and actually doing it"
From Cowles Discussion Paper to @QJEHarvard: Organizational Structure and Pricing: Evidence from a Large U.S. Airline By Ali Hortaçsu, Olivia R. Natan, Hayden Parsley, Timothy Schwieg, & Kevin R. Williams: cowles.yale.edu/research/cfdp-…
Relevant to Acemoglu's embrace of power theory x.com/econliberties/…
Relevant to Acemoglu's embrace of power theory x.com/econliberties/…
#econtwitter CALL FOR PAPERS: Research with and within Organisations. Mannheim, Germany, 9–11 September 2024 The deadline for submission of full papers is 30 April 2024.
Robert P. Murphy @BobMurphyEcon
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132K Followers 1K Following Podcaster. Recovering FBI Agent. Federal Whistleblower. Constitutional Extremist. 2A defender. Truth Bombardier. Podcast: https://t.co/kfhBB4Jsr7@JosephEStiglitz > Financial markets left to their own devices Ah yes, the unfettered financial markets. Hopefully your book will finally lead to the creation of the first regulatory bodies for the laissez faire financial sector.
To suggest that one of the most heavily regulated sectors in our economy is an example of 40 years of “free markets left to their own devices” is an interesting interpretation of our financial landscape.
Financial markets left to their own devices do not make economies and those who live in them free, despite what Milton Friedman said. Lots of data over 40 years shows we’re actually worse off. We need a new way to think about markets, economic policy and what we want our society…
Very good thread. Sec 6g of the FTC Act is an extremely weak basis of authority for the FTC’s noncompete rule in every Circuit except DC.
Indeed the language of 6g is a great place to start. But maybe, just maybe, you find yourself wanting to get knee deep on the question rather than just getting your ankles wet. Then what? Here's a short guide: 1. 6g of the FTC Act indeed grants the Commission “[f]rom…
Indeed the language of 6g is a great place to start. But maybe, just maybe, you find yourself wanting to get knee deep on the question rather than just getting your ankles wet. Then what? Here's a short guide: 1. 6g of the FTC Act indeed grants the Commission “[f]rom…
If you're wondering whether the FTC has the power to ban noncompete clauses, here's where you want to start:
@petergklein @BrianCAlbrecht As Merrill and some others have pointed out, some prior Commissions rejected claims the Commission possesses such authority, e.g., in both 1940 and 2015. 4/4.
@petergklein @BrianCAlbrecht Article by leading Administrative Law authority Tom Merrill concluding that FTC lacks such authority as mater of ordinary statutory interpretation, regardless of so-called "Major Questions Doctrine." administrativelawreview.org/wp-content/upl… 3/
This is … wrong. And not to get all technical but it’s super duper wrong. Price fixing are horizontal restraints on competition (between competitors) that nearly always reduce output and increases price. Non competes are vertical (employer- employee) that sometimes do…
Non-competes are like price-fixing - rarely a good thing and appropriately subject to a flat ban.
@petergklein @BrianCAlbrecht Press release here from the plaintiff: ryan.com/about-ryan/pre… 2/
@petergklein @BrianCAlbrecht First complaint here contending that the FTC lacks authority to issue such a rule. files.lbr.cloud/public/2024-04. 1/
Good Freudian slip
4. Entrepreneurs and startups deceived how noncompetes has stifled innovation and blocked new ideas from coming to market. Healthcare workers described how noncompetes had led them to leave the profession entirely, depriving rural areas of care.
By publishing falsehoods like the surgisphere fraud and the Lancet commission whitewash of lockdown failure and harms, the @lancet was among the worst contributors to public misinformation during the covid era.
Misinformation is not a new phenomenon – far from it. However, the COVID-19 pandemic highlighted how infodemics (an overabundance of information, including mis- and disinformation) pose a threat to health and confidence in research. Expand the thread ⤵️
🙄
FTC moves to block Tapestry’s acquisition of Capri. $8.5 billion deal would eliminate competition between Coach, Kate Spade, and Michael Kors: bit.ly/3WabfK4
Quotes from generals who opposed the use of nuclear weapons against Japan during World War II: 1. General and Republican President Dwight Eisenhower: “I told [Truman, a Democrat] I was against it on two counts. First, the Japanese were ready to surrender and it wasn't necessary…
No, America was not evil for dropping the bomb on Hiroshima and Nagasaki. And no, “just asking questions” doesn’t make you a critical thinker. Evaluating evidence, claims, and counterclaims does.
Super happy to be back in Madrid and talk about my fav topics: #digital #platforms, #competition for #attention & #Love Thx @juanpmaicas & @CUNEF for the invitation @CBScph @SI_Copenhagen
Here we go again.... Next week we get the yearly Guardian Op Ed on how the axioms of 1940s economics are responsible for everything wrong in the world.
Three universities—Columbia, USC, and now Yale—find themselves in quagmires rooted in their unprincipled and shortsighted embrace of identity politics. The drama now centers around the rights of Jewish and pro-Palestinian students. Both groups feel let down, even discriminated…
@BillAckman @Ukraine Oh so this is about negotiations? Ukraine was in a stronger negotiating position: — before the war when Biden rejected Russian red lines; — at the beginning of the war when a peace deal was blocked in Istanbul; — in Nov 2022 when the administration rejected Milley’s suggestion.
Note that the Iraq War and the Afghanistan War also began with annual appropriations in the $60B range. Those wars ended up costing trillions.