I like this framework comparing networks to hierarchies. I find it captures something very true. I'll have more to say on it once I get around to starting a new meme on the blog which I will call Dimension Analysis. (HT: Arnold Kling)
Cliff Asness makes the case for HFT and indicates how some of the "facts" and "reasoning" about it might not be quite so factual or reasonable.
David Bernstein weighs in on an on-going discussion over at The Volokh Conspiracy about how legal extremist (and ridiculous) the Obama Administration has been.
Sumner argues that the American system is rigged to favor the rich. I think this is part of a natural evolution and hope to expand on this thought in an upcoming post.
The O'Bannon v. NCAA trial has ended. Michael McCann has a good summary of how the last day turned a bit in the NCAA's favor. Anyway you look at it, though, the NCAA is in a prolonged process much like a divorce where there is no winning--only degrees of losing. They have all but lost the moral/ethical argument. They have been forced to admit to being a cartel (but a good one, not like any of those other bad cartels). Like I tweeted to McCann,
@McCannSportsLaw NCAA:"If we pay players what they're worth, fans will suffer." --May win O'Bannon, but doesn't pass ethics sniff test.
— Steve Winkler (@swinkler78) June 28, 2014
They can't have it both ways in either an ethical or legal sense: the NCAA is either a consumer-harming monopolist or a labor-harming monopsonist (or both, they can fail to have it both ways).In a different realm of sports meets law meets consumer demand, it only surprises me that this has taken until now to come about. I expect a lot more up and through a tipping point. Poor guy . . .
PS. I've made many promises in this post. I hope I can live up to them.
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