All Terrain Thinking

A Compendium of things I think are Important

Economics: It's not just whats' in your wallet

Questions of the Day
Antitrust and Regulation

1. Between 1860 and 1900 the US experienced rapid urbanization as immigrants and farmers flooded into the nation's cities.  New York City, for example, grew from slightly more than 1 million inhabitants to nearly 3.5 million during this period.  Chicago's population, meanwhile expanded from approximately 100,000 to nearly 1,700,000.  Please explain why in this period cities grew up rather than out and why Chicago grew so rapidly.  Also explain why Detroit came from nowhere in 1900 to become the nation's fourth largest city in 1920.

2.  What are the primary differences between economic and social regulation of industry and what are examples of each?

3. The Block Island Ferry service is considered by some to be a natural monopoly. What does this mean about the industry?

4. What does universal access mean when it comes to Block Island ferry service?  What will the regulatory agency do to preserve universal access?

5. Why could we not impose on the Block Island ferry the decision rule that guides perfect competitors in the ideal world - the P = MC rule?  An alternative would be a rate of return rule.  How would this work?

6. What business practices were outlawed by the Clayton Act of 1914 and how do they relate to the Microsoft case

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