The Role of the State

The subsidized emergency takeover of Credit Suisse by UBS brings the current global "too big to fail" regime into question. This column argues that an in-depth analysis of the global resolution framework by both regulators and academics is needed. The main question is whether a resolution of a global systemically important bank is indeed feasible in plausible scenarios. An affirmation would clearly be the best possible result of this analysis. However, if such a resolution proves not to be realistic, then there should be no hesitation to drastically reduce the global risks of such institutions via regulation of their business models.

The Supreme Court’s 1962 Brown Shoe decision, which found a merger to be anticompetitive even though it would have reduced prices for consumers, remains...

Dominant web services will often incentivize mobile phone carriers to provide their customers access to their services at zero cost to the customer’s data plan, also known as zero-rating. In new research, Bruno Renzetti argues that this behavior can be a form of exclusionary conduct designed to solidify the monopolies of dominant online platforms and services that ultimately harms consumers even if it appears to lower their data costs at first glance.

The Federal Trade Commission recently failed to stop Meta’s acquisition of virtual reality company Within, while the Department of Justice is now attempting to...

Adopting a deferred pay scheme for bank managers would provide them with needed funding during a downturn and would incentivize more conservativism when it comes to risk-taking.

Many scholars and policymakers have suggested regulating firms’ ability to price discriminate between consumers when they operate in a market prone to inactive users,...

“Consumer Welfare” has lost its place as the animating value and standard for modern antitrust. The standard is almost universally regarded as bunk and...

The Department of Justice recently sued Google for conduct relating to its ad tech services, accusing the search giant of unlawful monopolization. In an...

Following a widely cited report on unrecognized bank losses due to interest rate rises, Amit Seru and his co-authors have taken a close look...

Would increasing regulation of the U.S. airline industry resolve the issues that Americans have heard about and experienced in the past few months? Clifford...