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Socioeconomic theory of regulation
- The pathetic dot theory or the New Chicago School theory was introduced by Lawrence Lessig in a 1998 article and popularized in his 1999 book, Code and Other Laws of Cyberspace. It is a socioeconomic theory of regulation.
en.wikipedia.org/wiki/Pathetic_dot_theory
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THE NEW CHICAGO SCHOOL. LAWRENCE LESSIG* Abstract. In this essay, the author introduces an approach (‘‘The New Chicago School’’) to the question of regulation that aims at synthesizing economic and norm accounts of the regulation of behavior.
The pathetic dot theory or the New Chicago School theory was introduced by Lawrence Lessig in a 1998 article and popularized in his 1999 book, Code and Other Laws of Cyberspace. It is a socioeconomic theory of regulation.
- The Rise of The Chicago School
- The Consumer Welfare Standard
- Post-Chicago School
- New Brandeisians
- Antitrust Enforcement – Too Little, Too Much Or Just Right?
- The Antitrust Revolution
Antitrust policy in the 1950s, 1960s and 1970s continued to be dominated by the “Harvard School” of economic thought. This school of thought took an interventionist approach to antitrust policy and sought to create more bright-line rules against anticompetitive conduct. “Market power” was viewed skeptically, almost irrespective of how that power wa...
The antitrust laws describe conduct that is unlawful but does not set forth the criteria for assessing when that conduct becomes unlawful. For instance, over 100 years ago the U.S. Supreme Court recognized that Section 1 of the Sherman Act did not literally mean to make every contract in restraint of trade unlawful because every contract, by defini...
In the 1990s, antitrust policy shifted towards the so-called post-Chicago School approach. The basic underpinnings of the Chicago School view on economics and antitrust remained, including a focus on consumer welfare, but incorporated more strategic thinking and realism into the approach. The post-Chicago School no longer assumed perfect competitio...
The pendulum continues back to where it began. Beginning in the 2010s, academics started to question the foundations of the Chicago School and its approach to antitrust enforcement. Aligned with progressive political thought, the New Brandeisians are concerned about growing market concentration and power and what they perceive as lax antitrust enfo...
With all due respect to Goldilocks and her quest for the prefect bowl of porridge, whether there has been too little or too much antitrust enforcement in the last couple of decades depends on one’s perspective. Early in March 2021, Senate Democrats, led by Sen. Amy Klobuchar (D-MN), introduced the Competition and Antitrust Law Enforcement Reform Ac...
Whether or not enforcement was sufficiently rigorous in the past, and whether or not the antitrust laws need boosting, there is no questioning the fact that we are on the verge of an antitrust revolution. In our upcoming articles, we will spell out what that revolution is starting to look like and how that may play out in various industries. Stay t...
In this essay, the author introduces an approach (“The New Chicago School”) to the question of regulation that aims at synthesizing economic and norm accounts of the regulation of behavior.
- Lawrence Lessig
- 1998
The Chicago school of economics is a neoclassical school of economic thought associated with the work of the faculty at the University of Chicago, some of whom have constructed and popularized its principles.
Mar 11, 2024 · The chapter deals with the New Chicago School in Chicago, around a group of economists like George Stigler, Milton Friedman, Ronald Coase and Gary Becker, without forgetting the role of Friedrich Hayek in the development of its neoliberalist ideology, and outside...
Jan 4, 2008 · This new school raises questions for scholars: (a) Is an autocratic mayor and a machine required to govern a twenty-first century city? (b) Will racial politics continue to be key? and (c) Can effective governance be created for a metropolitan region?
