{"id":3654,"date":"2023-05-20T02:35:43","date_gmt":"2023-05-20T02:35:43","guid":{"rendered":"https:\/\/www.godefy.com\/pluralistic-venture-predation-19-may-2023"},"modified":"2023-05-20T02:35:43","modified_gmt":"2023-05-20T02:35:43","slug":"pluralistic-venture-predation-19-may-2023","status":"publish","type":"post","link":"https:\/\/www.godefy.com\/pluralistic-venture-predation-19-may-2023\/","title":{"rendered":"Pluralistic: Venture predation (19 May 2023)"},"content":{"rendered":"<p>Today&#8217;s links Venture predation: A pile of shit this big MUST have a pony underneath it! Hey look at this: Delights to delectate. This day in history: 2003, 2008, 2013, 2018, 2022 Colophon: Recent publications, upcoming\/recent appearances, current writing projects, current reading Venture predation (permalink) They said it couldn&#8217;t happen. After decades of antitrust enforcement against Predatory Pricing &#8211; selling goods below cost to kill existing competitors and prevent new ones from arising &#8211; the Chicago School of neoliberal economists &#8220;proved&#8221; that predatory pricing didn&#8217;t exist and that the courts could stand down and stop busting companies for it. Predatory pricing &#8211; the economists explained &#8211; may be illegal, but it was also imaginary. A mirage. No one would do predatory pricing, because it was &#8220;irrational.&#8221; And even if there was someone irrational enough to try it, they would fail. Stand down, judges of America &#8211; predatory pricing is solved. Chicago School economists &#8211; whose job (to quote David Roth) is to find new ways to say &#8220;actually, your boss is right&#8221; &#8211; held enormous sway of the federal judiciary. The billionaire-backed Manne Seminars offered free &#8220;continuing education&#8221; junkets to judges &#8211; all-expense-paid luxury vacations salted with lengthy your-boss-is-right econ seminars. 40% of the US federal judiciary got their heads filled up at a Manne Seminar. For monopolists and other predators, the Manne Seminar was an excellent return on investment. After attending a Manne Seminar, the average judge&#8217;s legal decisions tipped decidedly in favor of monopoly, operating on the Chicago&#8230;<a href=\"https:\/\/pluralistic.net\/2023\/05\/19\/fake-it-till-you-make-it\/\">Pluralistic: Venture predation (19 May 2023)<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today&#8217;s links Venture predation: A pile of shit this big MUST have a pony underneath it! Hey look at this: Delights to delectate. This day in history: 2003, 2008, 2013,&hellip; <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1752,739,300,141,811,2676,12,2677,295],"_links":{"self":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/posts\/3654"}],"collection":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/comments?post=3654"}],"version-history":[{"count":0,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/posts\/3654\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/media?parent=3654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/categories?post=3654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.godefy.com\/wp-json\/wp\/v2\/tags?post=3654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}