That's Steven Pearlstein's characterization of the judiciary's attitude toward federal health and safety regulation in a column published today. Here's an excerpt discussing what Pearlstein views as a recent example: Their latest salvo came just before Labor Day, when a divided three-judge panel threw out rules requiring states to control the air pollution that wafts […]
by Jeff Sovern Mark Bittman has an interesting column in today’s Times, My Dream Food Label, describing how his ideal food label would use traffic lights–green, yellow, or red– to signal qualities such as the healthfulness of the food. Though Bittman doesn’t mention the health department restaurant grading system, which uses letter grades, it’s a […]
Oren Bar-Gill has written Seduction by Contract: Law, Economics and Psychology in Consumer Markets (Oxford University Press 2012). The Introduction is available here. Here's the abstract: Consumers routinely enter into contracts with providers of goods and services. These contracts are designed by sophisticated sellers to exploit the psychological biases of consumers. They provide short-term benefits, while imposing […]
As this article by Sheri Qualters explains, "Netflix Inc. has agreed to put closed captions on 100 percent of its streaming content within two years to settle a lawsuit filed by the National Association of the Deaf last year" under the Americans With Disabilities Act. This settlement could encourage other on-line video providers to follow […]
The purpose of the Airline Deregulation Act (ADA) of 1978 was to get federal and state governments out of the business of regulating the economic aspects of the commercial passenger airline industry. (The FAA still regulates the safety of air travel.) Mark Perry, a scholar at the American Enterprise Institute, has found that, despite a […]
Chunlin Leonhard of Loyola University New Orleans has written The Subprime Mortgage Crisis and Economic Checks and Balances, Banking & Financial Services Policy Report, June 2012, at 15. Here's the abstract: This article examines contract law’s role in the subprime mortgage crisis, specifically in the way that the laissez faire paradigm of traditional contract law […]
You can read a New York Law Journal report here. Wright is a professor at George Mason. The article highlights his devotion to Chicago-school economics and reports that he rejects the use of behavioral economics in antitrust. The article also opines that if Governor Romney wins the presidency, Wright would be a potential FTC Chairman. […]
by Jeff Sovern Yesterday I posted a special report on voting on consumer protection issues. I have been asked to remove the post to avoid the appearance of intervening in a political campaign. Accordingly, I have removed the post and do not plan to post the follow-up posts I had promised until after the election.
The Federal Trade Commission announced this morning that it has settled two cases concerning improper use of consumer credit information. The first settlement resolves FTC allegations that the consumer reporting company Equifax Information Services violated the FTC Act and the Fair Credit Reporting Act by selling lists of consumers who were late on their mortgage […]
Today's Washington Post has this article comparing President Obama's and former Governor Romney's positions and track record on a range of health care issues.