Antitrust Enforcement for the 21st Century

2019 ◽  
Vol 64 (4) ◽  
pp. 514-530
Author(s):  
Marc Jarsulic
Keyword(s):  
21St Century ◽  
Economic Performance ◽  
Business Models ◽  
Market Competition ◽  
Digital Data ◽  
Merger Policy ◽  
Antitrust Enforcement ◽  
Barriers To Entry ◽  
Firm Level ◽  
The U.S

Market competition is faltering in important parts of the U.S. economy. Measures commonly used by economists to evaluate firm-level economic performance now indicate that many firms have market power and are earning profits above competitive levels. The expected response—the entry of new firms that want to earn a share of those higher returns in those markets—has not happened. This is a consequence of barriers to entry, arising from a variety of sources including increased market concentration, the increased use of intellectual property protection in the form of patents, the rise of business models dependent on network externalities, and the rising importance of digital data as an input in production. The principal conclusion of this article is that antitrust policy must be reoriented to effectively limit the creation of barriers to entry. An example of how merger policy could be changed is developed.

Recognizing barriers to entry of biosimilars in the United States market and highlighting the solutions

2020 ◽  
pp. 174113432097215
Author(s):  
Arpit Bana ◽  
Priti J Mehta
Keyword(s):  
Patent Protection ◽  
Reference Product ◽  
Market Competition ◽  
The United States ◽  
Living Cells ◽  
Barriers To Entry ◽  
The Us ◽  
The Government ◽  
The Cost ◽  
The U.S

Drugs that are procured from living cells and are used to treat acute and chronic diseases are called biologics, whereas biosimilars are the drugs which are highly similar but not identical to the original reference product. The main advantage of these drugs is that they are highly targeted with great therapeutic activity and can be used for multiple indications. Despite all the advantages biologics are still extremely costly. The main purpose of developing and introducing biosimilars was and is to increase market competition leading to a decrease in the cost of the biologics. However, until now the cost of the treatment has not decreased in the US market because there are many barriers to the entry of biosimilar in the US market which are discussed in this article. In this article, we argue that the barrier or hurdle in the US market entry of the biosimilars is not only limited to patent protection or exclusivity but other less discussed barriers are also there which are to be discussed. Due to these barriers till June 10, 2020, only 9 biosimilars are available commercially in the US market out of the 27 biosimilars approved for marketing by the U.S. Food and Drug Administration (FDA). We argue that the introduction of these biosimilars in the US market is essential for increasing market competition and thus decreasing the overall treatment cost for both the government and the payers. In this article, we are also providing perspective on the possible solutions to reduce these barriers and to encourage the entry of biosimilar in the US market.

scholarly journals Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation

2010 ◽  
Vol 84 (4) ◽  
pp. 675-702 ◽  
Author(s):  
William Lazonick
Keyword(s):  
Economic Growth ◽  
Business Model ◽  
Economic Performance ◽  
Business Models ◽  
New Paradigm ◽  
Executive Pay ◽  
Old Economy ◽  
Stock Buybacks ◽  
The U.S

How does economic organization affect economic performance? This analysis of the historical transformation of the U.S. economy from the business model of the “old economy” to that of the “new economy” demonstrates that the Japanese challenge of the 1980s was an important catalyst for the shift. Anchored by the “Chandlerian” corporation, the old model delivered economic growth that was much more equitable and stable than the new one. Furthermore, the business model that underpinned the Japanese challenge represented a superior version of the old U.S. prototype. The fi nancialization of corporate decision-making under the new paradigm has been the prime source of inequity and instability in U.S. economic performance over the past three decades. As manifested in outsized executive pay and massive stock buybacks, the fi nancialization of the U.S. corporation threatens long-term economic growth.

THE END OF BETTERMENT ACCOUNTING: A STUDY OF THE ECONOMIC, PROFESSIONAL, AND REGULATORY FACTORS THAT FOSTERED STANDARDS CONVERGENCE IN THE U.S. RAILROAD INDUSTRY, 1955–1983

2007 ◽  
Vol 34 (1) ◽  
pp. 25-55 ◽  
Author(s):  
Jan R. Heier ◽  
A. Lee Gurley
Keyword(s):  
21St Century ◽  
Accounting Standards ◽  
Interstate Commerce Commission ◽  
Early 21St Century ◽  
Railroad Industry ◽  
Tax Legislation ◽  
Industry Standards ◽  
Securities Industry ◽  
Arthur Andersen ◽  
The U.S

On January 26, 1983, the Interstate Commerce Commission (ICC) announced that it would require all railroads under its regulatory jurisdiction to change from Retirement-Replacement-Betterment (RRB) accounting, to a more theoretically sound depreciation accounting for matching revenues and expenses. The change was needed because RRB did not allow for the recapture of track investment, leaving the railroads with limited capital to replace aging track lines. Over the previous three decades, it had become painfully obvious to everyone that the industry's economic woes were the result of archaic accounting procedures that lacked harmony with the rest of American accounting standards, but the ICC was reluctant to change until new tax legislation in the early 1980s forced the issue. The decision was a culmination of a debate that started in the mid-1950s when Arthur Andersen, with the help of the securities industry, began an effort to harmonize railroad and industry standards using arguments that mirror those supporting the international accounting harmonization efforts of the early 21st century.

Exploring a 21st-Century Japan-Philippine Security Relationship: Linking Two Spokes Together?

Asian Survey ◽  
2009 ◽  
Vol 49 (4) ◽  
pp. 691-715 ◽  
Author(s):  
Renato Cruz De Castro
Keyword(s):  
21St Century ◽  
The Face ◽  
Security Relationship ◽  
The U.S

The article examines Tokyo's efforts to link the Philippine and the Japanese security spokes in the face of Beijing's moves to widen the cleavage between both countries' alliances with the U.S. and render them irrelevant. The article concludes that Manila and Tokyo must first reconfigure a defense relationship that is not merely a military aggregation but a political apparatus enabling them to constructively engage an emergent China.

Sign in / Sign up

Export Citation Format

Share Document