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Full-Text Articles in Political Economy
The Labor Share In The Post-1980 Economy: An Analysis Of The Contributing Factors, Mia Bellucci
The Labor Share In The Post-1980 Economy: An Analysis Of The Contributing Factors, Mia Bellucci
Honors Theses
During the Neoliberal period, which roughly began in the early 1980s in the U.S., there was a substantial slowdown in the growth rate of real hourly compensation, while productivity had continued to grow. The last two decades of the Neoliberal period (2000 – 2020) also experienced somewhat of a substantial decline in the labor share. In recent decades, there has been a growing amount of literature attempting to explain the major factors that have contributed to these recent labor market developments. This study provides a means of investigating the changes in the labor share and its components (i.e., real hourly …
Progressive Antitrust, Herbert J. Hovenkamp
Progressive Antitrust, Herbert J. Hovenkamp
All Faculty Scholarship
Several American political candidates and administrations have both run and served under the “progressive” banner for more than a century, right through the 2016 election season. For the most part these have pursued interventionist antitrust policies, reflecting a belief that markets are fragile and in need of repair, that certain interest groups require greater protection, or in some cases that antitrust policy is an extended arm of regulation. This paper argues that most of this progressive antitrust policy was misconceived, including that reflected in the 2016 antitrust plank of the Democratic Party. The progressive state is best served by a …
Re-Imagining Antitrust: The Revisionist Work Of Richard S. Markovits, Herbert J. Hovenkamp
Re-Imagining Antitrust: The Revisionist Work Of Richard S. Markovits, Herbert J. Hovenkamp
All Faculty Scholarship
This review discusses Richard Markovits’ two volume book "Economics and the Interpretation" and "Application of U.S. and E.U. Antitrust Law" (2014), focusing mainly on Markovits’ approaches to antitrust tests of illegality, pricing offenses, market definition and the assessment of market power, and his important work anticipating unilateral effects theory in merger cases. Markovits argues forcefully that the Sherman and Clayton Acts were intended to employ different tests of illegality. As a result, even when they cover the same practices, such as mergers, exclusive dealing, or tying, they address them under different tests. He then shows how he would analyze various …