Mark Twain once called the reports of his death greatly exaggerated, which is how we feel about competition in the telecom sector. Despite the protestations of those who keep urging new government regulation to assure continued choices in cable TV and wireless, the market keeps telling us that competition is …
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It turns out Mary Poppins had it right: “a spoonful of sugar makes the medicine go down.” That’s one of the takeaways from a recent IMF study on energy subsidies, how they distort economies and also how to reform them. The IMF doesn’t quote Ms. Poppins directly, of course, … The dictum, “first, do no harm,” is a duty commonly assigned to physicians. In our view, it’s a good mantra for regulators as well, and we urge it on the Federal Communications Commission in drawing up rules for an upcoming auction to free additional radio spectrum for smart phones, tablets … In a bid to boost the state’s struggling casinos, New Jersey has opened the door to online blackjack, slots and poker games run by the state’s licensed gambling operations. With any luck, the legislation will also serve as a template for online “prediction markets” that could help improve both … Check out The Economist’s review of Tim Wu’s timely, if flawed, book The Master Switch. Wu doesn’t like the way information-based industries – think software or wireless networks – tend to grow more concentrated after an initial blossoming. As remedy, he recommends building regulatory walls … By Robert Hahn, Peter Passell | Tags: economies of scale, innovation, The Economist, The Master Switch, Wu | Category: Quick Takes, Theory of Regulation |
 Leave a commentAT&T announced plans to acquire T-Mobile USA for a cool $39 billion. The next move is up to the Department of Justice, the Federal Trade Commission, and the Federal Communications Commission. If these authorities take a conventional, old-style approach to merger analysis, AT&T could face resistance. But if authorities focus on the critical … Tyler Cowen has an interesting response to Paul Krugman’s post on why the potential to sue for damages is an inadequate substitute for government regulation. (This, of course, is in the context of the oil spill in the gulf.) Judging by the interchange, it’s hard to conclude … By Robert Hahn, Peter Passell | Tags: British Petroleum, oil spill, Paul Krugman, Tyler Cowen | Category: Quick Takes, Theory of Regulation |
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Professor Dieter Helm (Oxford) is a very fine fly fisherman, and an even better economist. If you haven’t done so, take a look at his new book “The Carbon Crunch: How We Are Getting Climate Change Wrong — and How to Fix It” for a bit of unconventional wisdom. He argues that politicians and the general public have not shown any real interest in addressing climate change. Helm argues that places like Europe should focus on setting a price for carbon that would cover consumption (and not just production), and that fracking could be a good “bridge” technology for reducing consumption of coal. The book is readable and insightful for those interested in the inside track on climate policy. 
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