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, presented at a University of the Piedmont (Italy) conference in January 2007, analyzes several features of the U.S. experience with class action litigation, emphasizing suits alleging antitrust law violations. It observes that despite the trebling of damages under U.S. antitrust law,...

This paper, written for a Georgetown University Law School conference in April 2007, addresses the allegation that "conservative" economic analyses have had a disproportionate influence on the substance and vigor of U.S. antitrust enforcement and adjudication. It acknowledges the significant...

This article characterizes the activities required to launch a new pharmaceutical molecule into the market, summarizes studies that have attempted to pinpoint the research and development costs incurred per approved new molecule, and analyzes the various critiques levied against published R&D...

The U.S. pharmaceutical industry has experienced in recent years two dramatic changes: stagnation in the growth of new molecular entities approved for marketing, and a wave of mergers linking inter alia some of the largest companies. This paper explores possible links between these two phenomena...

This paper, written for a Columbia Law School - American Bar Association conference, 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...

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, written for a larger compendium edited by Dennis Mueller, examines key dynamic features of capitalistic economies and how prominent economists such as Schumpeter, Marx, Keynes, and von Mises perceived them. The emphasis is on the growth in real per capita income achieved by...

The United States experienced merger waves of unprecedented proportions during the 1980s and 1990s. After mapping the resulting relocation of corporate headquarters among metropolitan areas, this article investigates how relocations affected the financial status of leading American symphony...