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Commentary – Bring Back Antitrust

David Dayen, American Prospect – Bring Back Antitrust – Despite low inflation and some bargain prices, economic concentration and novel abuses of market power are pervasive in today’s economy—harming consumers, workers, and innovators. We need a new antitrust for a new predatory era…In his 1978 book The Antitrust Paradox, Bork, a devotee of University of Chicago economic theories, contended the Sherman Act was merely a “consumer welfare” prescription, not a presumption against market power (which generally can’t exist in Chicago theory)Recent scholarship has shown Bork’s assumptions to be backward. John Kwoka, an economics professor at Northeastern University, collected retrospective data on 46 closely studied mergers, and found that 38 of them resulted in higher prices, with an overall average increase of 7.29 percent. In cases where the Justice Department imposed some sort of condition for accepting a merger, like divestiture of some product lines or bans on retaliation against rivals, the price increases were even higher, ranging from 7.68 percent to 16.01 percent. By this analysis, consumers don’t benefit at all from merger activity, as market power overwhelms whatever efficiency gains…”

New on LLRX – Digital preservation is hard when older content can fall through cracks

Via – Digital preservation is hard when older content can fall through cracks – Implementation of new content management systems that govern the web and often render older pages and sites inaccessible create access barriers for researchers seeking to access older content across subject areas. TeleRead Editor Chris Meadows describes the problem, the implicationsContinue Reading

Summary of the Bitcoin Seminar Held at Kaye Scholer in New York on October 15, 2015

New on – Summary of the Bitcoin Seminar Held at Kaye Scholer in New York on October 15, 2015  – The market quote for Bitcoin on October 15, 2016 at 5:00 pm EST was $255.64 US according to on the site’s Price & Data page. At that same moment, Alan Rothman was attending aContinue Reading

Global Terrorism Index 2015

Global Terrorism Index 2015 – “Produced by the Institute for Economics and Peace, the GTI is based on data from the Global Terrorism Database (GTD) which is collected and collated by the National Consortium for the Study of Terrorism and Responses to Terrorism. The GTD is considered to be the most comprehensive dataset on terroristContinue Reading

The Emergence of the Millennipreneur

“This year, the 2016 BNP Paribas Global Entrepreneur Report reveals the emergence of a new generation of entrepreneurs under 35 years old. Dubbed the ‘Millennipreneurs’, these are business starters from ‘Generation Y’, born between 1980 and 1995, also known as Millennials. Their approach to business, in terms of their ambitions, results and leadership style, differs fromContinue Reading

Reducing inequalities and financing education remain key challenges

“Governments need to tackle persistent inequalities in education and focus on improving efficiencies in their education systems in order to ensure that every child, whatever their background, can realise their full potential and benefit from a good education, according to a new OECD report. Education at a Glance 2015 reveals the rapid progress made inContinue Reading

WMO: 2015 likely to be Warmest on Record, 2011-2015 Warmest Five Year Period

News release: “The global average surface temperature in 2015 is likely to be the warmest on record and to reach the symbolic and significant milestone of 1° Celsius above the pre-industrial era. This is due to a combination of a strong El Niño and human-induced global warming, according to the World Meteorological Organization (WMO). TheContinue Reading

Dept. of Interior OIG Memo Cites Recurring Network Cyberattacks

Inspector General’s Statement Summarizing the Major Management and Performance Challenges Facing the U.S. Department of the Interior Report No. 2015-ER-068. November 9, 2015. “External threats to Federal information systems are persistent and increasing, and the risk for real damage is high. Because of the large size of its networks, and because those networks contain sensitiveContinue Reading

Stakeholders in Reform of Global System for Mutual Legal Assistance

Swire, Peter and Hemmings, Justin, Stakeholders in Reform of the Global System for Mutual Legal Assistance (November 8, 2015). Georgia Tech Scheller College of Business Research Paper No. 32. Available for download at SSRN: “This essay contributes to the Privacy Project’s volume on Systematic Government Access to Private Sector Data, and also is partContinue Reading

FastCompany on the Future of Facebook

Harry McCracken – FastCompany – Facebook is firing on all cylinders. Now Mark Zuckerberg is looking to the decade ahead, from AI to VR to drones. “The Facebook of today—and tomorrow—is far more expansive than it was just a few years ago. It’s easy to forget that when the company filed to go public onContinue Reading

Infographic: The Screening Process for Refugee Entry into the United States

Via the White House, November 20, 2015: “Summary: A step-by-step guide to the rigorous process for refugee entry into the U.S. Refugees undergo more rigorous screening than anyone else we allow into the United States. Here’s what the screening process looks like for them…”

Liquidity Management in Banking: What is the Role of Leverage?

Vo, Quynh Anh, Liquidity Management in Banking: What is the Role of Leverage? (October 2015). Swiss Finance Institute Research Paper No. 15-51. Available for download at SSRN: “This paper examines potential impacts of banks’ leverage on their incentives to manage their liquidity. We analyse a model where banks control their liquidity risk by managingContinue Reading