When a friend of mine was young, his family kept their dog close to home with one of those invisible fences. It delivered a mild shock to the dog’s collar when he crossed its line. One day, the fence posts shorted out. But the dog still refused to cross the shock-less border. There was nothing keeping him fenced in but his mind.
According to data released this week, Samsung and Apple make up the majority of the top 20 global smartphone models sold in the first quarter of 2014. While that success demonstrates the robust market prowess of these smartphone manufacturers, the real winners are the customers, getting more services, better products and lower prices. Almost the exact opposite happens when companies resort to lawsuits to gain market advantage, a sort of rent seeking via the courts.
Like Captain Renault in the 1942 movie Casablanca, I am “shocked… shocked” to find that gambling has been going on in the mortgage-backed securities business. And so, apparently, is the[...]