Eric Posner on How Antitrust Failed Workers

Subscribe: Apple Podcasts | PocketCasts | Overcast | Stitcher | RSS

Mike talks with Eric Posner, the Kirkland and Ellis Distinguished Service Professor of Law at the University of Chicago, about his latest book, How Antitrust Failed Workers. In this discussion, they cover:

– monopolies and monopsonies
– labor market concentration
– why there are so few labor-focused antitrust actions
– important differences between labor markets and product markets
– the use and abuse of non-compete and no poaching agreements
– how antitrust law can be used to help workers
– and lots more

The Politics Guys on Facebook | Twitter

Listener support helps make The Politics Guys possible. If you’re interested in supporting the podcast, go to patreon.com/politicsguys or politicsguys.com/support. On Venmo, we’re @PoliticsGuys 

Powered by RedCircle

 

Texas Abortion Law, Jobs & Inflation, The Nobel Price & Minimum Wage Increases

Subscribe: Apple Podcasts | PocketCasts | Overcast | Stitcher | RSS

Mike & Jay open the show with a discussion of the 5th Circuit overturning a federal district court judge and allowing Texas’ abortion law to remain in effect. Neither Mike nor Jay believe the law is constitutional according to current precedents, but Texas’ clever crafting of the law has made it more difficult for federal courts to enjoin it. Jay wonders when there will be a high profile case with a non-state defendant, which would circumvent the “you can’t sue Texas because Texas isn’t directly enforcing the law” argument. Mike points out that even if the law is eventually overturned it will have achieved in part what many pro-life advocates hoped for — making it much more difficult for women to terminate their pregnancies, at least for a time.

Next is a look at a bunch of economic data on jobs, job switching, unemployment, and inflation. Mike sees the economic news as mixed, but believes that current inflationary pressures are temporary and that it’s a good thing that workers have greater leverage to demand higher pay. Jay is less optimistic about inflation in particular, and is more willing than Mike to attribute much of what we’re seeing to overly-generous government support. Mike admits that Jay will almost certainly end up right in his 2021 year end inflation prediction (Jay predicted around 5%, Mike thought it would be closer to the 2% range), but Mike then decides to make even more predictions – that the CPI will be under 4% by mid April of 2022 and under 3% by July of 2022. Jay thinks both numbers will be higher than that.

Finally, they consider the minimum wage in light of this year’s Nobel Prize in Economics going to economist David Card, who is most well known for his work on the minimum wage. Mike points to a considerable body of research suggesting that the conventional wisdom viewing minimum wage hikes are “job killers” is, if not entirely incorrect, at least somewhat overstated. Jay isn’t as convinced, and while he agrees that there probably should be a wage floor, the federal minimum wage shouldn’t be raised. 

Mike Recommendation
The Chair (Netflix)

Jay’s Recommendation
Jay’s amicus brief to the Ohio Supreme Court on unemployment insurance benefits. (Only 12 pages – totally worth checking out to witness Jay doing his “real job” thing.)

The Politics Guys on Facebook | Twitter

Listener support helps make The Politics Guys possible. If you’re interested in supporting the podcast, go to patreon.com/politicsguys or politicsguys.com/support. On Venmo, we’re @PoliticsGuys 

Powered by RedCircle

 

Debt Agreement, Facebook Whistleblower, Abortion Injunction

Subscribe: Apple Podcasts | PocketCasts | Overcast | Stitcher | RSS

Trey & Mike open the show with the recently passed debt resolution keeping the government open until December 3. The two pick up where Mike & Jay left off last week on the topic of the debt ceiling and its historic origin. Further the two discuss predictions for what December may hold.

Next, they discuss the interconnected issues of Whistleblower Frances Haugen and the recent revelations about Facebook by the Wall Street Journal. Mike has a fairly pessimistic view of any change while Trey sees the possibility for reform in changes to privacy forcing business changes.

Finally, it’s time to talk about the recent Federal District Court injunction on Texas’ abortion ban. Both hosts agree the mechanism is flawed. Trey is more supportive of a broader conception of life and personhood, but Trey & Mike agree that Congress could take a larger role. In this topic they also discuss the forgotten potential importance of the 9th and 10th Amendments and Trey argues the nature of Constitutional Amendments made future one’s more difficult.

The Politics Guys on Facebook | Twitter

Listener support helps make The Politics Guys possible. If you’re interested in supporting the podcast, go to patreon.com/politicsguys or politicsguys.com/support. On Venmo, we’re @PoliticsGuys

Powered by RedCircle

Government Funding & Debt Ceiling, Biden’s Big Bills, Presidential Approval

Subscribe: Apple Podcasts | PocketCasts | Overcast | Stitcher | RSS

Mike & Jay open the show with a look at the last minute continuing resolution that keeps the government going until early December, as well as prospects for a default when the debt ceiling is reached on or around October 18. Mike agrees with Treasury Secretary Janet Yellen that the debt ceiling should be eliminated (or at least set at one quattuordecillion dollars), whereas Jay believes it’s a useful speed-bump that might help to provide some small measure of fiscal responsibility.

Next, they discuss the fate of two massive intertwined bills – the $1 trillion infrastructure bill and the $3.5 trillion budget resolution. Mike & Jay stick with their predictions that both will eventually pass, and while Jay sees this as a sign that the progressives are in charge of the House, Mike argues that progressives will end up with a whole lot less than they hoped for.

Finally, it’s an examination of presidential approval. With President Biden’s approval rating underwater, Donald Trump has been sounding and acting more and more like a 2024 presidential hopeful. While it’s a long way until the next presidential election, right now Trump is the Republican with the best odds according to Sports Betting Dime. After Trump, it’s Ron DeSantis, Nikki Haley, and Mike Pence. 

The Politics Guys on Facebook | Twitter

Listener support helps make The Politics Guys possible. If you’re interested in supporting the podcast, go to patreon.com/politicsguys or politicsguys.com/support. On Venmo, we’re @PoliticsGuys 

Powered by RedCircle