Hong Kong

The Death of Hong Kong’s Rule of Law

Hong Kong's rule of law has suffered a fatal blow. With the national security law, the authoritarian regime has all that it...

Beijing’s Erosion of Hong Kong’s Freedoms Has Been in the Works for Years

The wilting of civil and political freedoms in Hong Kong took a dramatic downturn since July after Beijing imposed its national security...

Jimmy Lai: “Hong Kong Will Eventually Be Like China, Plagued by Corruption”

In an interview with ProMarket, Hong Kong media tycoon and pro-democracy activist Jimmy Lai discussed his legal troubles, the roots of his...

Politics, Inconsistent Economic Policies, Destructive Dissatisfaction: The Roots of Hong Kong’s Malaise

In 2019, proposed amendments to the Extradition Bill triggered social unrest that has lasted for more than a year. Moving forward, Hong...

How Does Political Uncertainty Affect the Valuation of Long-Term Property Rights? Lessons From Hong Kong

A new paper studies the link between ongoing political uncertainty and long-term property rights in Hong Kong. It finds that properties subject...

Liberal Democracies Have a Duty to Respond to China’s New National Security Law

According to China’s sweeping new national security law, European citizens who argue in favor of self-determination for Hong Kong in their home...

Hong Kong’s Crisis and the Turn Toward Extraterritorial Law

China's new National Security Law, as well as its increasing reliance on law as a mode of repression, reflect important shifts in...

LATEST NEWS

How US Antitrust Enforcement Against Xerox Promoted Innovation by Japanese Competitors

Xerox invented modern copier technology and was so successful that its brand name became a verb. In 1972, U.S. antitrust authorities charged Xerox with monopolization and eventually ordered the licensing of all its copier-related patents. As new research by Robin Mamrak shows, this antitrust intervention promoted subsequent innovation in the copier industry, but only among Japanese competitors. Nevertheless, their innovations benefited U.S. consumers.

Revising the Merger Guidelines To Return Antitrust to a Sound Economic and Legal Foundation

The draft Merger Guidelines largely replace the consumer welfare standard of the Chicago School with the lessening of competition principle found in the 1914 Clayton Act. This shift would enable the Federal Trade Commission and Department of Justice Antitrust Division to utilize the full extent of modern economics to respond to rising concentration and its harmful effects, writes John Kwoka.

How Anthony Downs’s Analysis Explains Rational Voters’ Preferences for Populism

In new research, Cyril Hédoin and Alexandre Chirat use the rational-choice theory of economist Anthony Downs to explain how populism rationally arises to challenge established institutions of liberal democracy.

The Impact of Large Institutional Investors on Innovation Is Not as Positive as One Might Expect

In a new paper, Bing Guo, Dennis C. Hutschenreiter, David Pérez-Castrillo, and Anna Toldrà-Simats study how large institutional investors impact firm innovation. The authors find that large institutional investors encourage internal research and development but discourage firm acquisitions that would add patents and knowledge to their firms’ portfolios, hampering overall innovation.

The FTC Needs To Focus Arguments on Technological Transitions After High-Profile Losses

Joshua Gray and Cristian Santesteban argue that the Federal Trade Commission's focus in Meta-Within and Microsoft-Activision on narrow markets like VR fitness apps and consoles missed the boat on the real competition issue: the threat to future competition in nascent markets like VR platforms and cloud gaming.