Google built and maintains its AI leadership from cash, compute, and data accumulated illegally from its monopoly in internet search. Its control over internet search, advertisement, mobile phone operating systems, and cloud computing continues to give it an advantage in AI that its competitors lack. The U.S. Court of Appeals for the District of Columbia Circuit must consider this entrenched and vertically integrated market position when it revisits the lower court’s lax remedies, write Asad Ramzanali and Joel Thayer.

The current law and economics framework of corporate law rests on four theoretical underpinnings that restrict students’ and regulators’ understanding of the stakes of corporate law. In new research, Mariana Pargendler argues that creating corporate laws that are more attuned to social welfare will require deprogramming its dominant framework.

In recent research, Johnathan S. Hartley and Morris K. Kleiner find that occupational licensing is globally pervasive among both developed and developing nations. However, higher national licensing rates are associated with lower GDP per capita, larger informal sectors, and weaker governance scores.

The following is an excerpt from Pentagon Capitalism: How the Cold War US Military Modeled Itself on Private Business by A. J. Murphy, now out at Harvard University Press.

In new research, Ben Bates examines the recent wave of funds designed to open private markets to retail investors. Such funds both underreport volatility and perform worse than comparable funds aimed at wealthier investors.

The dynamic competition school claims that competition authorities, by analyzing firms’ capabilities, can protect what this school calls dynamic competition.  Competition authorities, however, cannot adequately analyze firms’ capabilities. This school, therefore, lacks any framework which the authorities can use to analyze what they call dynamic competition. Any framework to protect dynamic competition, or what some call competition to innovate, must instead first identify the future products the competing firms are trying to make, writes Larry Landman.