The truth about auctions

Though all sides have declared victory after Friday’s Supreme Court opinion on the Presidential Reference on whether auctions are the only way to allocate natural resources, the reality is a lot more nuanced. While the SC has reinforced the government’s right to decide on how it allocates resources, including non-auction methods, this right has been constrained quite tightly in the same opinion — it has to be pointed out, though, that this is an opinion, not a judgment, and so cannot be enforced in the manner a judgment can.

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