"The Justice Department has a dismal record in bringing antitrust cases in fast-moving industries. In the 1960s, IBM had to defend its "dominant" mainframe business, which the personal computer soon rendered obsolete. Then Microsoft was accused of having monopoly power it only wishes it ever had. Today Google is in the regulatory crosshairs just as it faces many new competitors.
The disconnect between how the earned income tax credit and unemployment benefits are calculated often means that people who didn't work receive a larger credit than those that did, an economist writes.
Jeffrey M. Kaplan submits: As the new year and decade get underway, here are a few of the areas of the cloud computing market which I think will be important competitive battlefields for established and emerging players:
In today's Economix post, Casey Mulligan argues that the greater than predicted unemployment numbers should not be ascribed to the negative effect of the stimulus, but rather to bigger than anticipated negative shocks.
We cannot blame the Obama administration for failing to predict June's 9.5 percent unemployment rate.
Once upon a time in the good old U.S. of A, way back in the 19th century, there were gigantic companies that were known as trusts. We had trusts for Steel, we had trusts for oil, we had trusts for railroads, and we had trusts for just about everything except trust itself.
And by "we", I mean the intellectual culture. Casey Mulligan since 2008 has given strong reasons to doubt the credit crunch and aggregate demand failure explanations. See this recent NYT column on the labor market.
HT: Andy Young