A new day is dawning in sports. A tyrannical dragon has suffered the first strike of what I predict will be a lethal combination leading to its eventual slaying. The NCAA has lost the O'Bannon case. Michael McCann's take is, as always, a must read. He carefully lays out the limits of the ruling, but my optimism is not naive. The lawsuits have just begun, and the law from which they challenge is various--meaning more ways the NCAA can be harmed--while the judge will be the same--and she didn't mince words in rejecting the NCAA's logic and arguments. Notice that those calling for (market) reform are not satisfied yet. That is important as it means the NCAA hasn't found refuge in a new normal. Rather the hypocrisy and ignorance is being called out. And the silly arguments, which wouldn't mean salvation for the NCAA even if they were valid, are smothered before leaving the nest.
Kevin Erdmann makes an interesting comparison between school choice and financial regulatory choice with a spotlight on Dodd-Frank. The thrust is that a right to exit is essential to good institutional policies and incentives.
Speaking of exit, Arnold Kling points to others showing yet another way we could exit the FDA.
Scott Sumner wants you to know that the American middle class is fine and that is exactly what he means.
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