Categories
Monopolization

Pay for Delay

I have been following the debate in the pages of Antitrust between two groups of distinguished economists about “pay for delay”, which is when a branded drug maker pays a generic drug maker to delay entry into the market.   The question is how much pay for delay do you need before you can conclude that the payment is anticompetitive and should therefore be treated as a violation of antitrust or competition laws?

Categories
Civilization

Umbrellas in the Zone of Rain

People with umbrellas open before or after the rain.

Categories
Paradise Lost

Public Reason

Hughes notes at Paradise Lost : IV : 389: “public reason: reason of state, a perversion of the Ciceronian principle . . . that the good of the people is the supreme law . . . Henry Parker approved its use by Parliament and condemned the Royalists for too frequent appeals to it.”

Milton writes:

And should I at your harmless innocence
Melt, as I do, yet public reason just,
Honor and Empire with revenge enlarg’d,
By conquering this new World, compels me now
To do what else though damn’d I should abhor.

Reminds me of 9/11, executive power, and the invasion of Iraq.