Herbert Hovenkamp

I think that's usually what economics, uh, describes when it tries to describe competition.

I think what -- If you look at the legislative debates and discussion that led up to the law, what they had in mind, I think, was something like the way that the Areeda and Hovenkamp treatise starts off defining competition on, I think, like, the first page, and they just describe it as a process of rivalry, where if we wanted to use some modern kind of economically informed language, we'd say where firms have a lot of ability and incentive to try to attract business by offering better terms than their rivals.

I think that's a pretty sensible way to define it, too, and we don't need a price theory diagram or a Econ 101 textbook.

Yeah.

He previously served as assistant attorney general of the Antitrust Division and is, of course, an accomplished scholar and professor at multiple universities.

We have Herbert Hovenkamp, who's the James G. Dinan University Professor at the University of Pennsylvania Law School.

The New York Times called him the Dean of Antitrust Law, and he's authored numerous case books and treatises on antitrust law.

We also have Professor Daniel Sokol, who's the Carolyn Craig Franklin Chair in Law and a Professor of Law and Business at the USC Gold School of Law and Marshall School of Business in the Marketing Department.

I might be confusing what he does with what someone else does.

But I think it's Herb Hovenkamp, who's a professor at the University of Pennsylvania.

And he's fighting with people on X because he's saying enough affirmative action for conservatives.

If conservatives were good, then we have a free market of ideas and we would hire them.

Okay, there have always been economic consultants at Antitrust.

In fact, if you or your listeners read Herb Hovenkamp's sub-stack for the day, he talked about there were economists involved in the U.S. steel case.

I had not known that.

I saw it.