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We study household credit responses to Hurricane Harvey using new, geographically granular data on credit cards, mortgages, and flooding. Estimates from a differences-in-differences design that exploits the flooding gradient show that affected households only borrow at low-interest rates, often using promotional (zero interest) cards and that they quickly pay down balances. We also document that take-up of forbearance (borrowing by missing mortgage payments without penalty) increases with flooding. These results are attenuated in floodplains, particularly in structures subject by code to physical hardening. Our results indicate that credit acts as a substitute for the lack of physical hardening. [ABSTRACT FROM AUTHOR]

Adverse market events can affect credit supply not only by hurting financial fundamentals but also by changing the risk-taking behaviors of individual decision-makers. We provide micro-level evidence of this individual decision-making channel in the U.S. mortgage market. We find that mortgage application rejection rates are more sensitive to foreclosure intensity when loan officers are more exposed to foreclosure news, despite the same housing market and bank fundamentals. Loans originated from the affected branches have lower ex post default rates, consistent with higher lending standards being applied. In the aggregate, this effect results in tighter credit supply during housing market downturns. [ABSTRACT FROM AUTHOR]

Using loan-level data, this analysis considers the intersection of race, subprime home loans, and the current vacancy crisis in St. Louis, Missouri. Borrowers in Black areas in the north of St. Louis City and St. Louis County received subprime home loans at higher frequencies during the subprime boom period of 2003–2007 than those in White areas, with differences in balloon loans especially stark. Specifically, borrowers in Black neighborhoods received subprime loans more frequently than those with equal FICO scores in White neighborhoods. As a result of these differential loan terms, North City and inner ring "First Suburb" areas saw more foreclosure and borrower payment delinquency, which in turn were highly associated with home vacancy, controlling for other risk factors. However, foreclosure was no longer a significant predictor of home vacancy after controlling for demographic factors and FICO score, indicating that the unequal loan terms may have driven much of the increase in home vacancy in the St. Louis area since the Great Recession. [ABSTRACT FROM AUTHOR]

The article explores the impact of credit availability on house prices in the Irish residential market, particularly in the context of the global financial crisis of 2007/08. It discusses the increase in mortgage credit and house prices before the crisis, as well as reforms in credit availability and regulations. The study uses a model to analyze the relationship between credit standards and house prices, providing insights that may be relevant to other EU member states. The findings suggest that recent house price increases in Ireland could be influenced by changes in credit conditions, underscoring the importance of monitoring this relationship for financial stability. The collection of academic articles and reports delves into various aspects of housing markets, credit conditions, and economic cycles, with a focus on Ireland and the UK, offering valuable insights for policymakers and researchers interested in understanding housing market dynamics and macroeconomic trends in these regions. [Extracted from the article]

Scant attention has been paid to the racial impacts of bankruptcy and foreclosure in the United States. This article examines the links between bankruptcy, housing loss, and "risk responsibilization," a neoliberal process in which consumers rather than lending institutions are held responsible for debt management. We used data sequencing, and Geographic Information Systems Mapping (GIS) to analyse 1,057 cases of home foreclosure and related bankruptcies from 2016 to 2019 in a Deep South US County. We found housing vulnerability to be a racialized process, with Black homeowners more likely to face foreclosure and less likely to receive a fresh start through bankruptcy. In foreclosure, Black-owned homes were more likely to convert to rental property. The study provides sequential and spatial evidence of connections between risk responsibilization, systemic racism, and housing loss in the geography of dispossession. [ABSTRACT FROM AUTHOR]

We compare the effects of price and quantity competition in an industry with complementary inputs, outsourcing and a vertically integrated firm where vertical integration occurs between a final goods producer and a subset of input suppliers. The profit of the integrated firm and the industry profit are higher under Bertrand competition, the profit of the non‐integrated firm is higher under Bertrand competition for high product differentiation, and consumer surplus and welfare are higher under Bertrand competition for low product differentiation. Further, no market foreclosure can be the preferred choice of the vertically integrated firm for any degree of product differentiation. [ABSTRACT FROM AUTHOR]

Black homeownership declines across the U.S.A. at significantly higher rates than white, Hispanic, or Asian homeownership. Although the cost to own a home is lower in Republican states, Black Americans are much less likely to maintain homeownership in those areas. This article attempts to gain leverage on the following question: "what is the penalty of political parties on Black homeownership in America?" The findings presented here provide support to the notion that there is a nationwide penalty of political parties on Black homeownership. The variation in this penalty is dependent on a given state's opportunity structure for institutional racism, which changes based on the state's foreclosure laws and partisan leanings. To support the nationwide findings, this article provides a case study on Black homeownership across the state of New York's judicial districts with 221 partisan-elected judges, revealing that there remains a penalty in Republican judicial districts. Previous scholarship has analyzed the relationship between parties and foreclosures, as well as the relationship between race and foreclosures. This article assesses the intertwined relationship of parties, race, and foreclosures. [ABSTRACT FROM AUTHOR]

Narrative care for families suffering from perinatal loss is rarely provided by medical institutions in China Mainland. However, with the advancement of the Chinese narrative medicine theory and practice, the clinical significance of narrative care has been increasingly recognized. Based on the principles of Chinese narrative medicine, this narrative case study described traumatic narrative foreclosures occuring in a family suffering from stillbirth, and highlighted the multidisciplinary collaboration for practising narrative care in the process of supporting the bereaved in our hospital. Meanwhile, we advocate the establishment of a narrative care ecology by training more obsteticians and nurses with good narrative competence in purpose of helping the family experiencing perinatal losses to overcome their tramatic narrative foreclosures, increasing the chances of another successful pregnancy and childbirth as well as enhancing their quality of life. [ABSTRACT FROM AUTHOR]

This article examines Giulia Caminito's novel La grande A (2016) to show how descriptions of colonial subjects and spaces rely on stereotypes and exoticisations derived from colonial discourse. By analysing formal aspects and the intertextual relationship with Mario Tobino's Il deserto della Libia (1952), the article underscores a continuity in terms of modes of representation between La grande A and its main sourcetext, suggesting a lack of interactions or connections with the transnational African/Italian authors who have confronted the legacy of Italy's colonial past. In a mainly white European figurative framework, the novel marginalises and forecloses Black/African subjects while, at the same time, providing readers with orientalist descriptions of the former colonies. Although the novel addresses a frequently overlooked topic in Italian literature, namely colonialism and women's experiences in the overseas territories, it also problematically reproduces stereotypes about Africa/Africans rather than effectively exposing and debunking them. [ABSTRACT FROM AUTHOR]

In dialogue with recent studies that have sought to foreground the negative and the abyssal in human geography and that have struggled in vain to prevent their foreclosure, we introduce the work of the French theorist Maurice Blanchot, whose challenging and thought-provoking writings remain largely unknown within our discipline despite their significance for deconstructing geography's conceptual architecture. After explicating Blanchot's neutralization of the problem of negativity and positivity, the paper brings Blanchot's neutral writings to bear on three areas of contemporary geographical concern: the trouble with subjectivity and identity; the unhinging of space and time; and the disaster of writing. [ABSTRACT FROM AUTHOR]

Double marginalization is a robust phenomenon in procurement under asymmetric information when sophisticated contracts can be implemented. In this context, vertical integration causes merger-specific elimination of double marginalization but biases the make-or-buy decision against independent suppliers. If the buyer has full bargaining power over prices and quantities, a vertical merger benefits final consumers even when it results in the exclusion of efficient suppliers. If on the contrary the buyer's bargaining power is reduced after she has committed to deal exclusively with a limited set of suppliers, exclusion of efficient suppliers may harm final consumers. [ABSTRACT FROM AUTHOR]

This study investigates how payment shock from interest rate resets affects subprime mortgage foreclosure rates. Using robust econometric techniques (OLS, 2SLS, GMM), it isolates the causal effect of payment shock while accounting for house prices and borrowers' ability to pay. Our findings show a significant positive link (27%) between payment shock and foreclosure rates. It highlights economic stability's importance, showing negative correlations between foreclosure rates and ability to pay, as well as foreclosure rates and house prices. Lagged foreclosure rates show a persistent effect. The GMM model provides the most reliable estimates by addressing endogeneity, heteroscedasticity, and serial correlation. [ABSTRACT FROM AUTHOR]

Considering the increased institutionalization of scholar-activist research across many university contexts, this reflection critically engages the assumed harmony between scholarship and activism in migration research. Collaboratively authored by eight academics at various disciplinary, geographic, gendered/racialized, and careerlevel junctures, the article examines the commitments, aspirations, anxieties, and contradictions of activist scholarship. The reflection elaborates on concepts such as accompaniment, reciprocity, foreclosure, disclosure, and impact, putting a finer point on what responsible, ethical, and political research means in the neoliberal university today. The discussion develops insights from a 2023 workshop, convened by Noor Amr and Katharyne Mitchell, at the Max Planck Institute for the Study of Religious and Ethnic Diversity in Göttingen, Germany. [ABSTRACT FROM AUTHOR]

Copyright of Majalat Monazaat Al-Aamal is the property of Majalat Monazaat Al-Aamal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper addresses the rules applicable to algorithmic bias taking the form of self-favouring by hybrid digital platforms in the EU. In this paper, it is argued that the recently introduced prohibition of self-favouring by digital platforms should not apply across the board in the same manner. It may be necessary to consider the nature of the underlying products or services, the business models, and the monetization strategies of digital platforms. Differences in these aspects may alter their ability and incentives to engage in self-favouring potentially leading to foreclosing rivals and harming consumers. This suggests that the approach put forward by section 19a of the German Competition Act (GWB) may be better from an error-cost perspective than that of the Digital Markets Act (DMA). Section 19a of the GWB grants more discretion to enforcers and allows for a broader justification of the impugned conduct. In the context of the DMA, some sort of balancing exercise seems to be possible only if the European Commission makes extensive use of the possibility to further specify the prohibition of self-favouring contained in Article 6(5) of the DMA in light of the principles of effectiveness and proportionality. Finally, the paper touches upon the potential disproportionate burden, legal fragmentation, and legal uncertainty across the EU resulting from the interplay between EU competition law, the DMA, and national laws tackling similar self-favouring practices. [ABSTRACT FROM AUTHOR]

Do lenders securitize or price loans in response to credit risk? Exploiting exogenous variation in regional credit risk due to foreclosure law differences along U.S. state borders, we find that lenders securitize mortgages that are eligible for sale to the government-sponsored enterprises (GSEs) rather than price regional credit risk. For non-GSE-eligible mortgages with no GSE buyback provision, lenders increase interest rates as they are unable to shift credit risk to loan purchasers. The results inform the debate surrounding the GSEs' buyback provisions, the constant interest rate policy, and show that underpricing regional credit risk increases the GSEs' debt holdings. [ABSTRACT FROM AUTHOR]

Copyright of Czech & Slovak Social Work / Sociální Práce / Sociálna Práca is the property of Czech & Slovak Social Work and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article examines the ways in which Detroit Eviction Defense (DED) and other activist organisations employ a logic of care to argue for Black Detroiters' right to define who may claim home and place in the city. The article uses the foreclosure case of longtime Detroiter Lela Whitfield to examine the ways in which DED successfully resists eviction by arguing publicly that legitimate claims to land and home should be based on how one cares for it-in terms of stewardship, in terms of relationships on and with places, and based on how one uses it. This essay argues that this logic of care has roots in a Black radical tradition and in the particular conditions of racial capitalism in Detroit. Ultimately, DED and other Detroiters offer care as an alternate logic to resist "racial banishment" and establish alternate place-claiming logics in the context of urban housing crisis, austerity, and financialisation. [ABSTRACT FROM AUTHOR]

The General Court's annulment of the European Commission's finding that Intel's conditional rebate scheme was abusive underscores the Court's readiness to scrutinize in detail the economic analysis, including the as-efficient competitor (AEC) test. This paper critically reviews some of the key errors that the Commission, according to the Court, made in relation to the implementation of that test, focusing on some of its main ingredients, namely the contestable share of the market, the conditional portion of the rebates, and the relevant cost benchmark. We conclude that the Court's assessment provides useful lessons for how to perform thorough and robust economic analysis not only within the context of an AEC test but in competition cases more generally. At the same time, considering the test's intrinsic limitations, we find that, aside from the test's implementation, its informative value should also be explored, based on economic theory and the facts of the case. [ABSTRACT FROM AUTHOR]

Copyright of Romanian Review of Private Law / Revista Română de Drept Privat is the property of Universul Juridic Publishing House and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The financialization of the U.S. economy has had important implications for household well-being, but the mechanisms connecting financialization and precarity have not been fully identified. This research identifies mortgage foreclosure as a nexus connecting macro-level financialization to an array of downstream consequences for homeowners and asks (1) how mortgage securitization, a key technology of financialization, enabled new foreclosure practices; and (2) how these practices affect housing precarity among homeowners at risk of foreclosure. To answer these questions, I analyze court records, interviews with key participants, and primary source documents to examine the evolution of mortgage foreclosure in Cook County, Illinois, from 1992 to 2006. I find that as mortgage securitization transformed the social and economic relations between borrowers and lenders, foreclosure became actively managed as both a driver of costs and a source of profits, and loan administrators and their attorneys worked to reduce costly borrower protections. These changes increased housing precarity by making foreclosure more frequent and more rapid. [ABSTRACT FROM AUTHOR]

Critique of instantiated discourses and practices seems to have ushered in an interregnum, a pause wherein a crisis of meaning ensues. This pause provides an opportunity, a space for new forms of reflection and novel formulations about what it is to be human. This special issue introduces a collection of papers representing a rich tapestry of feminist, decolonial, psychoanalytic, queer, and clinical insights which pave inroads into making sense of and transforming possibilities for being and practicing. The papers in this issue coalesce around three dimensions and commitments: (1) recentering marginalized epistemology, (2) reconfiguring ontological assumptions, and (3) providing possibilities for being and practice beyond the foreclosures of hegemony. In so doing, the authors provide scholarly and clinically sophisticated resources for navigating cultural territory where conventional and mainstream meanings and methods are in significant flux. Each of the pieces in this special issue was presented in the "Gender and Sexuality" track at the Psychology and the Other Conference (2023). [ABSTRACT FROM AUTHOR]

Here, we study vertical foreclosure in a dynamic setup with learning-by-doing production technologies. There is a downstream monopoly and an upstream duopoly, where manufacturers produce differentiated products and can gain proficiency through the accumulation of their production. We study the dynamic interactions in the vertical chain when the monopolist sets the prices; we find that customer foreclosure may arise in equilibrium when the products are close substitutes and be welfare-enhancing. The rate of learning is lower than the social optimal and a social planner would tend to impose exclusivity more often compared to the downstream monopolist. [ABSTRACT FROM AUTHOR]

This article examines home price spillovers associated with the number of nearby current and former real estate owned (REO) properties. The effect of active REOs is decomposed into the contributions of properties owned by the government sponsored enterprises (GSEs), US Department of Housing and Urban Development (HUD), and private entities to assess impacts associated with differences in managing REO inventories. The impact of former REOs is decomposed into spillovers associated with investor and owner-occupied properties. This study draws on home sale price data in the Detroit tri-county area 2008–2013. Results indicate REOs owned by HUD and private entities are associated with substantial discounts, with the largest effects appearing after remaining in REO inventory for more than one year. Investor-owned properties are associated with sustained and growing negative price effects through more than three years of ownership. Policies ensuring adequate oversight of REOs and sales to owner-occupants and non-speculative investors are encouraged. [ABSTRACT FROM AUTHOR]

All over the world, home loans and mortgages are part and parcel of the products and services being offered by the financial institutions-such as banks and homeowner mortgage institutions to their numerous customers. Prior, during and post home loan transactions, they owe their customers the duty to ensure full disclosure of all the terms and conditions in the mortgage agreements without withholding any information. This paper examines any act contrary to uberrimae fidei-utmost good faith in the transactions. Uberrimae fidei requires the highest standard of good faith on both the lender and borrower to disclose all material facts that could influence the decisions of the other party in seeking and granting home loans and mortgages. Failure might result in severe consequences by exploring both the civil and criminal responsibilities and liabilities of the party who acted mala fide-in bad faith. Against this backdrop, this paper examines the protection offered by the laws to ensure level playing field prior, during and after mortgage lending transactions. [ABSTRACT FROM AUTHOR]

We study the implication of secured credit with a default option for monetary equilibrium. The intermediary structure has the feature of costly state verification, with the monitoring cost interpreted as the cost of foreclosing assets once a default occurs. Without monitoring costs, uncertainty in asset payoffs does not matter for allocation. The asset price can exhibit a liquidity premium because more assets as collateral raises the borrower's credit limit. When there are monitoring costs, the asset's liquidity premium is strictly positive because pledging more assets reduces the default probability and thus the chance to incur monitoring costs. Under some circumstances, increased risk to dividends of the pledged asset may decrease the marginal borrowing cost to such an extent that bank lending rises, and higher default rates are accompanied by larger aggregate liquidity. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Planning Education & Research is the property of Sage Publications Inc. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article provides a comprehensive overview of the Federal Home Loan Banks (FHLBanks) in the United States. It discusses the historical context of their establishment during the Great Depression and their evolution over time. The article highlights key legislation and regulatory changes that have shaped the FHLBanks' mission and membership. It also addresses criticisms of the FHLBanks and suggests potential opportunities for improvement, such as clarifying their mission, expanding membership, and increasing support for affordable housing. The article emphasizes the importance of adaptability and evolution for the FHLBanks to remain relevant in the changing financial industry. [Extracted from the article]

This article starts from the observation that practices of 'algorithmic governmentality' or 'governance by data' are reconfiguring modes of social relationality and collectivity. By building, first, on an empirical exploration of digital bordering practices, we qualify these emergent algorithmic categories as 'clusters'—pulsing patterns distilled from disaggregated data. As fluid, modular, and ever-emergent forms of association, these 'clusters' defy stable expressions of collective representation and social recognition. Second, we observe that this empirical analysis resonates with accounts that diagnosed algorithmic governance as a threat to legal subjectivity and socio-political cohesion, and called for a reinvigoration of democratic values and their re-alignment with new 'infrastructural publics'. Against this backdrop, however, we explore alternatives avenues of legal imagination by pushing in a different (somewhat opposite) direction. Against the re-inscription of liberal categories, we linger with the promise and prospect of illegibility as resistance against the foreclosure of future potentialities in algorithmic forms of subject-making. Instead of falling back on the projection of autonomous human agency and liberal subjectivity to counteract the 'cluster', we imagine emancipatory expressions of resistance that are enacted through fugitive, opaque, and experimental collectivities. [ABSTRACT FROM AUTHOR]

In the Hong Kong government's latest effort to address land and housing shortages in the city, a task force was appointed to forge a consensus among the public as to how the city can increase its land supply. Using this case as an example and drawing on the literature of post-politics, this paper explores how the narrative of consensus has been deployed by state and non-state interests over the question of land supply to legitimise positions and to restrict the space of debate. This paper contributes to the literature by identifying post-politics' relevance and limitations when applied to non-Western contexts. [ABSTRACT FROM AUTHOR]

This paper measures the extent to which effects of foreclosures vary across neighborhoods. It offers a simple empirical framework for decomposing the spillover effects on neighboring property prices. Data from Orange County, Florida, reveal that the effects systematically vary across neighborhoods by morphology. The results indicate that older, homogeneous age structure, and non-gated neighborhoods with high vacancy rates are most in jeopardy when foreclosures are present, as these neighborhoods show the greatest neighborhood house price effects. [ABSTRACT FROM AUTHOR]

This study analyzes the price and time-on-market effects of short sale and lender-owned properties in the single-family housing market during the recent housing crisis. Short sales increased dramatically during the downturn as an alternative to foreclosures and deed-in-lieu of foreclosure transactions for resolution of defaulted mortgage loans. Using multiple listing service data, this study provides evidence that the price discounts associated with short sales and lender-owned properties differed significantly early in the crisis, but by the end of our sample the discounts were relatively similar in the sample market, which was not as hard-hit by the housing market downturn as markets examined in prior research. Using new time-on-market estimation methodology, the time-on-market results indicate that both short sale properties and foreclosed properties stayed on the market significantly longer than non-distressed properties, which differs from prior findings that foreclosed properties sell faster than non-distressed properties. The study also provides some evidence that different seller types (i.e. short sale-seller versus lender-seller) exhibit differences in their abilities to time their market entry. [ABSTRACT FROM AUTHOR]

Copyright of Romanian Case Law Review / Revista Română de Jurisprudenţă is the property of Universul Juridic Publishing House and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Introduction: Foreclosing and home eviction have been associated with various negative health outcomes, probably due to exposure to such stressful circumstance, but there is no evidence about foreclosure and home eviction to elicit cortisol responses. Methods: Participants who recently had received a court eviction notice were compared to subjects suffering a depressive disorder and to healthy controls in terms of hair cortisol concentrations. Results: Subjects under the stressful circumstance of foreclosure and patients with depression showed comparable concentrations in most of the hair segments while healthy subjects displayed the lowest levels of cortisol. Conclusion: The findings show that foreclosure and home eviction are associated with increased cumulative hair cortisol and with depressive-like symptoms. Foreclosing procedures yielded to maintain high levels of cortisol which may increase the risk to develop major depression. [ABSTRACT FROM AUTHOR]

Information systems (IS) and data analytics-focused academic disciplines remained surprisingly silent in attempting to contribute to a public understanding of critical societal challenges such as foreclosures. This paper tackles the gap by presenting a framework for building foreclosure prediction models by integrating publicly-available census-tract demographic data and readily-available technology (geographic IS (GIS) and machine learning (ML)). The framework is tested and validated using over 19,000 foreclosures from Cuyahoga County (OH) using J48 decision tree, artificial neural network, and Naive Bayes algorithms. The framework's empirical test identifies nine critical demographic attributes to successfully predict foreclosures, confirming the findings of prior studies while offering several new, highly predictive variables that were missed by prior research. This research is a call to broader IS, CS, and data science communities to assist society in understanding critical societal issues that may need deploying and integrating more advanced technologies. [ABSTRACT FROM AUTHOR]

Most major platforms sell many of their own products, which typically results in direct competition between the platform and its own business users. A firm may exploit its control of a dominant platform to undermine competition in adjacent product markets, such as by excluding competitors from the platform or making their product listings hard to find. Alternatively, it might engage in milder acts of "self-preferencing," such as ranking its own products first in search results. In American antitrust law, antiquated legal doctrine generally places these acts within a special class of unilateral conduct that is almost impossible to challenge. Thus, existing antitrust law does almost nothing to prevent platforms from excluding rivals in adjacent markets, so long as they do so through unilateral conduct. This Article suggests a new antitrust framework for policing unilateral platform conduct in a practicable way that is consistent with antitrust principles. When it is anticompetitive, the conduct in question typically raises the same concerns as the tying arrangement in the famous Microsoft case--namely, that a vertically integrated firm is exploiting a dominant platform to foreclose rivals in an adjacent market. As such, courts should evaluate most unilateral platform conduct under a revised liability standard that resembles the one applied in Microsoft, rather than the idiosyncratic and inapposite rules applied under existing law. After sketching out the basic proposal, the bulk of the Article focuses on applying it to real-world cases, such as analyzing foreclosure, defining markets, overcoming proof difficulties, and evaluating potential defenses. [ABSTRACT FROM AUTHOR]

This Article reviews two recent joint statements by the DOJ and FTC. The first was their request for information on their proposals to "strengthen" the antitrust laws on mergers. The second was the July 2023 release of new draft guidelines which were subject to many comments, often critical of the new regime. The difficulties with both documents start with the initial premise of their inquiries, which falsely posit that any "improvement" of the antitrust laws requires imposing new sanctions on private activities--when in many cases a relaxation of current restrictions may be best. But both agencies write as if the efficiencies inherent in many mergers are largely illusory. Consequently, they understate the social losses that come from blocking or modifying mergers under the Clayton Act. In addition, they underestimate the efficiencies of vertical mergers and overstate the risks of downstream foreclosure, as exemplified by the FTC's unwise attack on the Ilumina-Grail merger. Both documents also overstate the risk of monopoly power in labor markets, which bear little to no relationship to product markets. In light of their recent judicial defeats, both agencies should rethink their premature departure from traditional antitrust policies and redraft the proposed 2023 Guidelines from scratch. [ABSTRACT FROM AUTHOR]

This paper introduces the concept of ordinary entrepreneurial psychosis. This concept was discovered in the analysis of a case study of a tech entrepreneur in Colombia and elaborated with the aid of Lacanian psychoanalytic theory. Specifically, we draw on Jacques Lacan's conception of the discourse of the capitalist and his distinction between repression and foreclosure (Verwerfung). The practice of entrepreneurship, we argue, is the most perfect instantiation of what Lacan called the discourse of the capitalist. This is a discourse without limits characterised by denial of castration and lack, a discourse that at is most radical promises liberation through a break with the symbolic order, the relation to the other, and indeed with the world as such. In this particular case study, such a break is materialised in a literal belief in magic, a specifically modern and non-occult magic of deception and misdirection that promises great results from nothing. Such magical thinking, we argue, is at the heart of the entrepreneurial fantasy. To explain this broken relation to symbolic order that is characteristic of entrepreneurship, we draw on Lacanian theory and in particular Jacques-Alain Miller's concept of 'ordinary psychosis' to explain the structural homology between entrepreneurship discourse and the analytic category of psychosis. The structure of this discourse, we argue, brings with it not only magical and hallucinatory thinking, but moreover what we propose here to call ordinary entrepreneurial psychosis. [ABSTRACT FROM AUTHOR]