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The FTC’s Strategy Against Facebook is Bad Economics
The theory that Facebook acquired Instagram and WhatsApp primarily to squelch future competition represents a view of antitrust that is simplistic and naive. It also endangers a startup business model that has produced incalculable benefits through innovation.
READ MOREHow to Manage Trade Like Trump in Five Steps
The human imagination has a way of inventing an infinite number of reasons why the personal ego is superior to logic and evidence.
READ MORESolid Jobs Report Suggests Moderate Growth
A solid though not spectacular July jobs report points to continued modest economic growth. It also adds to the uncertainty around monetary policy, making justification for the most recent rate cut and future rate cuts more difficult.
READ MOREThere Is Only One Adam Smith
Smith demonstrated that if you really want to help other people, especially poor people, you need to support the growth of commercial society all over the globe.
READ MOREEgregious Errors in The New Yorker’s Account of Financial History
For a child of a banker, John Lanchester manages to get a lot of banking backwards.
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