President Obama's health care reform certainly offers progressive benefits as it extends access to health insurance. An economist might ask what it will cost. In today's WSJ, Casey Mulligan has written a pessimistic piece arguing that its costs will be very high. He argues that marginal tax rates will be rising due to this legislation and this will have medium term effects on slowing economic growth. Here is a graph from his paper. Do incentives matter?
"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:
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.
The US Government decided to withdraw guidelines on antitrust enforcement issued under the former administration. The Justice Department explained it wanted to "aggressively pursue" cases of monopoly abuse.