A drug manufacturer’s research pipeline is many things: a bet on science, a bet on regulators, a bet on patents, and a very expensive bet against failure. What it has not traditionally been—at least until now—is a standing invitation for
Truth on the Market
Truth on the Market is a publication that focuses on the intersection of law and economics, particularly in areas such as competition law, regulatory policy, and institutional analysis. It often features in-depth discussions on legal frameworks governing markets, including topics like EU competition law, broadcasting regulations, sports governance, and the economic implications of legal rules. The content typically explores how legal institutions and economic principles interact to shape market behavior, enforcement challenges, and policy reforms. The publication serves as a platform for scholarly and policy-oriented analysis relevant to legal practitioners, economists, and policymakers interested in the economic dimensions of law.
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Latest from Truth on the Market - Page 14
Grow the Pie, Skip the Sermon
In a recent Substack essay, “The progress movement needs a better theory of progress,” Brink Lindsey argues that the progress movement has settled for too thin a vision. It focuses on wealth creation and technological advance, he says,…
False Positives, Real Casualties: The High Price of Populist Antitrust
Spirit Airlines was supposed to be the “maverick” antitrust saved from JetBlue. Instead, the deal died, Spirit followed it into bankruptcy, and the maverick exited the market altogether. That is an awkward result for a merger challenge brought in…
The Lifeline Program’s Afterlife Problem
A subsidy program can survive many things. Paying benefits to the dead should not be one of them.
That is the problem now facing the Federal Communications Commission’s (FCC) Lifeline program, which was designed to ensure that low-income Americans can…
Competitiveness Without the Cronyism
By Alden Abbott
Big mergers are back in fashion. So are “national champions,” industrial-policy wish lists, and solemn warnings that antitrust enforcement may leave the West defenseless against foreign rivals. In Washington, Brussels, and London, competition policy increasingly sounds less like economics and…
AI Risk and the Very Large Hammer
The trick in AI policy is not deciding whether artificial intelligence is risky. Of course it is. So are electricity, aviation, pharmaceuticals, and teenagers with driver’s licenses. The harder question is where the risk attaches, and whether a given proposed…
Stack Wars: The Garage Myth Meets the Five-Layer Cake
The canonical story of the modern tech firm still starts in a metaphorical garage. William Hewlett and David Packard with the audio oscillator. Steve Jobs and Steve Wozniak with the Apple I. Jeff Bezos with a door-desk and a handful…
Reverse Patent Pools and Other TTBER Tall Tales
By Dirk Auer
In standard-essential patent (SEP) licensing, every procedural tweak is also a skirmish over bargaining power. That is what makes licensing negotiation groups (LNGs) more than an obscure acronym in the European Commission’s 2026 Technology Transfer Block Exemption Regulation (TTBER) and…
Merger Guidelines for the Industrial Policy Curious
By Lazar Radic
The European Commission published its draft “guidelines on the assessment of mergers under Council Regulation (EC) No 139/2004 on the control of concentrations between undertakings” yesterday. The title does what titles of merger guidelines usually do: it lowers…
Before Brazil Scrubs In: The Case Against Digital-Market Surgery
Brazil’s digital markets do not need a regulatory savior so much as a careful doctor. Bill 4,675/2025 arrives with the bedside manner of a reform, but the instruments of major surgery: a new bureaucracy, decade-long designations, and open-ended obligations for…