Reuters: Regulatory News: Economist/law professor named to US FTC

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Economist/law professor named to US FTC Sep 10th 2012, 22:42 Mon Sep 10, 2012 6:42pm EDT * Wright could move commission to the right -expert * Wright has degrees in law and economics * FTC has big probe of search giant Google under way WASHINGTON, Sept 10 (Reuters) - Law school professor and economist Joshua Wright has been nominated to the Federal Trade Commission, replacing Republican Thomas Rosch on the agency's five-member commission, which enforces antitrust law and consumer protection rules. Wright was nominated on Monday to replace Rosch, a Republican whose term ends this month. The job requires Senate confirmation. The FTC has a long list of big investigations in progress. Most notably, it has a wide-ranging antitrust investigation into Google over accusations that it manipulated search results to favor its own products. The agency is looking at two controversial mergers. One is Universal Music Group's plan to buy EMI Music's labels for $1.9 billion, which critics say would give UMG too much power as the music industry goes increasingly digital. Another is the purchase of Dollar Thrifty by Hertz Global Holdings Inc. The commission is also fighting settlements between brand-name drug companies and makers of generics, saying they often lead to delays in bringing the cheaper generic drugs to market. This issue is particularly important to FTC Chairman Jon Leibowitz. David Wales, a Republican and former acting director of the FTC's bureau of competition, called Wright a subtle, smart antitrust thinker. "He certainly has written some things that have been critical of more aggressive antitrust enforcement," said Wales. Bert Foer, head of the American Antitrust Institute, said Wright had a "reputation of being a very intelligent conservative advocate of law and economics. His appointment to replace Tom Rosch would represent a substantial move toward the right end of the spectrum." Wright is a professor at the George Mason University School of Law. In addition to a law degree, he has a Ph.D in economics. Link this Share this Digg this Email Reprints

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