This paper, written for a World Trade Organization compendium, investigates the possibilities open to developing nations for controlling the abuse of intellectual property rights, and in particular patents, under Articles 31 and 40 of the Uruguay Round TRIPS (trade-related aspects of...

This paper, written for a centennial commemoration of the founding of the U.S. Federal Trade Commission, reviews the history of two major cases tackling one of the most difficult problems in U.S. antitrust jurisprudence: the tetracycline case of the 1950s and 1960s and the suit against four...

This paper analyzes the massive merger wave that has led to substantially increased concentration of banking activity in the United States. One consequence is the rise of banks "too big to fail." The structural changes have also been associated with a striking change in financial institutions'...

This paper considers two paradoxes concerning the relationship between capital investment decisions and competition. First, conventional capital budgeting methods imply that substantial infra-marginal surpluses are attained above the cost of capital, but this is inconsistent with the premise...

This paper reviews the theory and historical developments that made it possible for the world's least affluent citizens to obtain the benefits of modern pharmaceutical therapy at affordable prices. Considered in turn are the theory of differential prices, the reasons why differential pricing was...