W. Benedikt Schmal

I've been awarded an #AntitrustWritingAward by @Concurrences and GWU Law School @gwlaw in the category "Academic Articles: Concerted Practices," and I could hardly be more proud. Thanks to all those who gave feedback on the paper along the way! @DICEHHU @haucap

@derhagemann Wer nicht in der Lage ist, jährliche/vierteljährliche Ausschüttungen auf Monate zu verteilen, sollte vllt seine Kapitalmarktkompetenz reflektieren

Nachdem ich in der sog. Börsenzeitschritft mit Namen „€uro“ unter der Überschrift „Der Weg zum zweiten Gehalt“ diesen Ratschlag gelesen habe, muss ich morgen erstmal zum Psychologen. Ich kann es einfach nicht glauben, dass so ein Medium es wagt, so 1 Scheisse zu empfehlen.

No one will take these governments seriously if they do not present their message seriously. This took me about five minutes last night.

Einladung zur 7. „Zivilisierten Provokation“ des Ludwig-#Erhard-Forums Gerald Braunberger (@FazitBlog, Herausgeber der @faznet) diskutiert mit Michael Burda (@HumboldtUni) über Geoökonomik & Grand Strategy für D. Anmeldung: forum@ludwig-erhard-stiftung.de

@schnellenbachj Wissenschaftlicher Konsens in der eigenen school of thought ist nicht zu verachten - siehe die internen Dispute bei Ordos und Austrians ☝️

Wissenschaftlicher Konsens, aber nur bei den progressiven Köpfen.☝️

Deaths per hot day have declined *massively* over the past century, and that's almost *entirely* due to air conditioning. As the world gets hotter, resisting air conditioning is absolutely insane and will kill many many people. This paper has the evidence.

Struggling to choose between money and pleasure? Start a PhD and reject both

@schnellenbachj Mein Professor, der Angriff Wachstum ist nicht erfolgt

Das kommt alles in Ordnung, wenn wieder jeder siebte Euro im Bundeshaushalt in Zinszahlungen fließt.☝️

Since some are wondering why the EU went along with this tariff "deal," let's spell it out. The EU knows that Trump's entire tariff agenda is currently facing a strong legal challenge in the US court system. The EU also knows that Trump's term is over in 3.5 years and the effective part of his presidency where he doesn't face congressional opposition is about 1.5 years at most. Since none of his tariffs are codified into law, they will expire in one of three ways: - The court strikes them down in a matter of weeks-to-months. Outcomes are never certain in court and they can always do weird and fickle things, but I'd put the odds of this happening as greater than 50%. The case genuinely is that clear-cut against him. - Trump loses Congress in 1.5 years at the midterms. If this happens, the procedural block that Mike Johnson placed to obstruct votes to rescind the tariffs is removed. The Democrats will then allow these votes out of opposition to Trump and probably pick up a few anti-tariff Republicans along the way. That means the tariffs are overturned in some form or another ca. 2026. - Trump narrowly retains his majority in 1.5 years, but is term limited in 2028. And since Trump's tariffs are just executive decrees and are not codified into law, any subsequent president can rescind them with a stroke of a pen. The only thing stopping that is to try to get a pro-tariff successor like Vance elected, but that will not last indefinitely nor is such a successor guaranteed to have a GOP congress. So the further out we get, the harder it is to keep the tariff decrees in place. If you are in the EU's position, you have basically two options: 1) Retaliate hard, harming yourself in the process and spiraling into a full-fledged trade war. 2) Try to get minor concessions now, knowing that the tariffs are likely to go away in a matter of weeks at best or about 3.5 years at worst. And if you realize that even 3.5 years of pain is less-bad than a self-destructive retaliatory trade war, you take option 2.

Das mit Abstand größte Versagen liegt bei denen in Europa, die #TTIP verhindert haben als es möglich war Wegen ein paar Chlorhühnchen und anderem Unsinn Vielen Dank an die #Grünen, die #Linken und den linken Flügel der SPD. Dieser Trade-Deal ist auch eure Niederlage

@ganglmair @Lufthansa_DE @BostonLogan @united It's Frusthansa for a reason

Check-in chaos of @Lufthansa_DE at @BostonLogan makes me question my choice of airline. Experiment failed. Back to @united

With increasing volatility in the world, antitrust in both the US and EU is being challenged to guarantee the survival of innovation. @schmal_w @TU_Ilmenau blogs.lse.ac.uk/businessreview…

@_ToFeWe Been there, done that

You gotta love German academia. Receiving a letter (yes, an actual letter, not an email) many, many months after applying just to tell you that you won't be considered for the professorship is always quite the experience.

@LarsWienand Wieso nicht einfach SEPA Überweisung ohne App. Bei vielen Neobanken geht das jetzt schon in Echtzeit und ab Oktober müssen alle Banken in der Eurozone Echtzeitüberweisungen senden undempfangen können

Wir reden über Unabhängigkeit Europas von den USA und von der PayPal-Mafia. Aber nutzt Ihr Wero, die europäische Alternative? (Ich bisher nicht. Natürlich kein gesponserter Post)

Socialism is like polio, it comes back when people forget about the horrible damage it did last time.

@sabinedoering @Lars_Feld @TimKriegerFR @BachmannRudi @OrdoliberalBG @haucap Richtig starkes Line-Up!

Freue mich drauf. @Lars_Feld @TimKriegerFR @BachmannRudi @OrdoliberalBG @haucap u.a. eucken.de/veranstaltung/…

@SchoeneggerPhil Onward and upward, as Jim Buchanan would say. Congrats"

Some personal news! Next month I will be joining Microsoft AI, working on the economic effects of advanced AI. After an amazing time at LSE, I'm really excited to contribute to this important area of research at Microsoft during such a pivotal moment for AI!

@olk_julian @haucap @handelsblatt @GrimmVeronika @WielandVolker Einfach das Profil auf der Institutswebsite aufzurufen, ist beim intensiven Durchforsten niemandem eingefallen? dice.hhu.de/diceteam/profe…

@haucap @handelsblatt @GrimmVeronika @WielandVolker Wir haben erfolglos die Datenbanken nach einem neuen Foto durchsucht. Sie müssen die Welt auch an ihren Wachstumserfolgen teilhaben lassen.

Diese Nachricht könnte die deutsche Ökonomenlandschaft auf den Kopf stellen: Wirtschaftsministerin #Reiche will sich einen neuen Beraterkreis einrichten, dem nach @handelsblatt-Infos die #Ökonomen Veronika @GrimmVeronika, Justus @haucap & @WielandVolker angehören sollen. 🧵1/5

@_ToFeWe Auf jeden Fall!

@schmal_w Müssen wir diesen Sommer noch mal zusammen in Angriff nehmen 🙌

Finally back for Berlin summer!

@fdp @nicolebuettner Erstmal die korrekte Schreibweise des Namens hinbekommen...