The election results present a puzzle of sorts. On the one hand, voters expressed deep resentment towards inflation, under the belief that Biden contributed to rising prices, failed to address them, or both. On the other hand, Trump’s signature economic policy is tariffs—on imports from Mexico to Canada and now Israel—which most economists believe will... Read More
Haters sometimes accuse the Federal Reserve of being a shadowy cabal of private bankers that slipped loose from democratic oversight. But we at The Sling trust our patriotic central bankers, who have never had anything to hide. To help the Fed tell its side of the story, we submitted a Freedom of Information Act (FOIA)... Read More
Many Americans are still in shock because our worst fears just came true: European regulators fined an American Big Tech firm a whopping one half of one percent of its annual revenue for violating some kind of “law.” To add insult to injury, radical American enforcers slipped loose from the adult supervision of the defense... Read More
“When the best reading of a statute is that it delegatesdiscretionary authority to an agency, the role of the reviewing court under the APA is, as always, to independently interpret the statute and effectuate the will of Congress subject to constitutional limits.” –SCOTUS, in Loper Bright Enterprises v. Raimondo. The quote above raises a tension between consideration of what Congress... Read More
After years of inflation-driven concerns over the state of the economy, it seems that the mythical soft landing has been achieved; things aren’t perfect but inflation is down without the United States hitting a recession. The labor market has weakened some in recent months, but is still largely okay and the Federal Reserve has started... Read More
It’s always better to be a monopolist. “Ruinous competition” is a drag on a company’s profits, particularly when slothful incumbents are forced to compete on the merits. In the case of banks, competition on the merits means increasing rates on deposits for customers with sizeable savings or decreasing overdraft fees for customers with limited funds.... Read More
As Google faces aggressive scrutiny from the Department of Justice—with the search trial moving to the remedies phase and the ad tech trial moving to closing arguments—there’s an elephant in the room that many antitrust watchers are failing to see: YouTube. With the platform’s presence on our phones, the part it plays in our online... Read More
Each semester at universities around the world, students in introductory economic classes are generally told the same stories. Perhaps to the surprise of some students who have met human beings, economists teach their classes that human beings are rational creatures who primarily seek to maximize their own utility in making choices. These students are also... Read More
In February 2023, Doha Mekki, the Principal Deputy AAG for Antitrust announced the withdrawal of the FTC-DOJ guidelines on information exchange. It had become painfully apparent that oligopolists had found exchanges of confidential business information to be an effective means of restraining competition without entering into overt conspiracies. In December of that year, we published... Read More