Woodford employs an inter-temporal general equilibrium model to examine the properties of the monetary system as it evolves from the use of a physical medium of exchange to an electronic medium. He presents a structure in which cash as a means of payment can be made to vanish at the limit, but...

Substantive antitrust law has dramatically shrunk. The shrinkage, which began in the 1970s with the transition from the Warren Court to the Burger and then Rehnquist Courts, has accelerated in the last decade. Much of the shrinkage has to do with the expansion of the rule of reason and its...

The chasm between the approaches of European Union competition law and United States antitrust law toward dominant markets, especially in high tech industries, could scarcely be greater, at least until quite recently. The leading example has involved Google, which the European Commission (the...