A Bureaucratic Farce

A Bureaucratic Farce

Friday’s decision by the Federal Communications Commission to cite Comcast for unlawful violation of “network neutrality” principles raises the serious question whether a government agency should be allowed to issue what it expressly terms a set of non-binding “principles” and then make an official finding of illegality when a company fails to follow those principles.

Airline Mergers and Oligopoly Pricing

Airline Mergers and Oligopoly Pricing

The airline industry charges lower prices today than a decade ago, despite substantial consolidation and massive, billions-per-year operating losses. As a matter of economics, those facts teach that the market is highly competitive. Some antitrust Neanderthals may disagree, but they are reading from a hymnal that no longer has much spiritual resonance.