Law and Economics Commons^™

Alternative Trading Platforms In The United States: Incentives For Innovation In The Us Stock Market, Gabriel V. Rauterberg

Book Chapters

Is something wrong with the structure of our stock market? Recent scholarship faults the equity market for its lack of innovation. In particular, commentators stringently criticize the continuous nature of modern trading for baking in a wasteful arms race for speed among high-frequency traders. Under their current structure, stock exchanges process incoming instructions to trade in the order they arrive and as quickly as possible, which means in millionths of a second or less. The result is a race for technological speed because market participants can earn profits from being the first to trade on new information, even when that …

A View From Labor, Theodore J. St. Antoine, N. Goldfinger

Book Chapters

It will come as no surprise that our attitude, as union spokesmen, toward further extension of the antitrust laws over the activities of American labor organizations is much like the attitude of Calvin Coolidge's minister toward sin: we're against it. We feel our attitude is justified. But in contributing to a volume graced by so distinguished a company of scholars, it may be best that we do not confine ourselves merely to developing our own case in support of a conclusion which some might accuse us of having harbored all along.

We therefore shall take two different approaches. First, we …