Prof. Stan Liebowitz, University of Texas at Dallas February 2, 2010 Keeping a monopoly on yourself? Economists are trained to examine individual markets in order to determine whether or not those markets are functioning in an “economically efficient” manner.  Economic efficiency, once achieved, requires that there be no way to increase the overall “surplus” – [...]

Prof. Stan Liebowitz, University of Texas at Dallas Sept. 1, 2009 Two pieces of copyright legislation have been floating around Congress during the last two years that are diametrically opposed to each other.  One is the “Performance Rights Act” and the other is the obscurely named “Local Radio Freedom Act.” The purpose of the first [...]

Prof. Stan Liebowitz, University of Texas – Dallas May 20, 2009 Economists and non-economists alike tend to be familiar with the phrase “creative destruction” and its implications that, although established firms may bemoan new innovation upsetting apple carts in their industry, and government may try to protect them from those changes, in the end we [...]