Economic Regulation And The Public Interest
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Author | : Steven P. Croley |
Publisher | : Princeton University Press |
Total Pages | : 393 |
Release | : 2009-01-10 |
Genre | : Law |
ISBN | : 1400828147 |
Not since the 1960s have U.S. politicians, Republican or Democrat, campaigned on platforms defending big government, much less the use of regulation to help solve social ills. And since the late 1970s, "deregulation" has become perhaps the most ubiquitous political catchword of all. This book takes on the critics of government regulation. Providing the first major alternative to conventional arguments grounded in public choice theory, it demonstrates that regulatory government can, and on important occasions does, advance general interests. Unlike previous accounts, Regulation and Public Interests takes agencies' decision-making rules rather than legislative incentives as a central determinant of regulatory outcomes. Drawing from both political science and law, Steven Croley argues that such rules, together with agencies' larger decision-making environments, enhance agency autonomy. Agency personnel inclined to undertake regulatory initiatives that generate large but diffuse benefits (while imposing smaller but more concentrated costs) can use decision-making rules to develop socially beneficial regulations even over the objections of Congress and influential interest groups. This book thus provides a qualified defense of regulatory government. Its illustrative case studies include the development of tobacco rulemaking by the Food and Drug Administration, ozone and particulate matter rules by the Environmental Protection Agency, the Forest Service's "roadless" policy for national forests, and regulatory initiatives by the Securities and Exchange Commission and the Federal Trade Commission.
Author | : George Joseph Stigler |
Publisher | : |
Total Pages | : 216 |
Release | : 1946 |
Genre | : Competition |
ISBN | : |
Author | : Edward J. Balleisen |
Publisher | : Cambridge University Press |
Total Pages | : 579 |
Release | : 2010 |
Genre | : Business & Economics |
ISBN | : 0521118484 |
After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs, and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.
Author | : Simeon Djankov |
Publisher | : |
Total Pages | : 56 |
Release | : 2001 |
Genre | : Barriers to entry (Industrial organization) |
ISBN | : |
New data show that countries that regulate the entry of new firms more heavily have greater corruption and larger unofficial economies, but not better quality goods. The evidence supports the view that regulating entry benefits politicians and bureacrats.
Author | : Klaus Mathis |
Publisher | : Springer Nature |
Total Pages | : 327 |
Release | : 2021-04-24 |
Genre | : Law |
ISBN | : 3030705307 |
This book explores current issues regarding the regulation of various economic sectors, theoretically and empirically, discussing both neoclassical and behavioural economics approaches to regulation. Regulation has become one of the main determinants of modern economies, and virtually every sector is subject to general laws and regulations as well as specific rules and standards. A traditional argument to justify regulatory interventions is the promotion of public interests. Fixing markets that lack competition, balancing information asymmetries, internalising externalities, mitigating systemic risks, and protecting consumers from irrational behaviour are frequently invoked to complement the invisible hand of the market with the visible hand of the state.However, regulations can lead to unintended consequences, and serve the interests of powerful private interest groups rather than the public interest and social welfare. In addition, new insights from behavioural economics question the traditional regulatory approaches, most prominently in attitudes towards consumers. Furthermore, digitalisation and technological innovation in general present new challenges in terms of both the type of regulation and the regulatory process.Part I of this book discusses various theoretical approaches to the economic analysis of regulations, while Part II looks at specific applications of the law and economics of regulation.
Author | : Daniel Carpenter |
Publisher | : Cambridge University Press |
Total Pages | : 531 |
Release | : 2014 |
Genre | : Business & Economics |
ISBN | : 1107036089 |
Leading scholars from across the social sciences present empirical evidence that the obstacle of regulatory capture is more surmountable than previously thought.
Author | : Christopher Decker |
Publisher | : Cambridge University Press |
Total Pages | : 779 |
Release | : 2023-05-31 |
Genre | : Business & Economics |
ISBN | : 131651451X |
Brings economic regulation to life by tracing theoretical insights through to real-world applications in eight essential regulated sectors.
Author | : Simeon Djankov |
Publisher | : World Bank Publications |
Total Pages | : 222 |
Release | : 2004 |
Genre | : Juvenile Nonfiction |
ISBN | : 9780821353417 |
A co-publication of the World Bank, International Finance Corporation and Oxford University Press
Author | : Robert Baldwin |
Publisher | : OUP Oxford |
Total Pages | : 680 |
Release | : 2012-07-19 |
Genre | : Business & Economics |
ISBN | : 019162943X |
Regulation is often thought of as an activity that restricts behaviour and prevents the occurrence of certain undesirable activities, but the influence of regulation can also be enabling or facilitative, as when a market could potentially be chaotic if uncontrolled. This Handbook provides a clear and authoritative discussion of the major trends and issues in regulation over the last thirty years, together with an outline of prospective developments. It brings together contributions from leading scholars from a range of disciplines and countries. Each chapter offers a broad overview of key current issues and provides an analysis of different perspectives on those issues. Experiences in different jurisdictions and insights from various disciplines are drawn upon, and particular attention is paid to the challenges that are encountered when specific approaches are applied in practice. Contributors develop their own distinctive arguments relating to the central issues in regulation and apply scholarly rigour and clear writing to matters of high policy-relevance. The essays are original, accessible, and agenda-setting, and the Handbook will be essential reading both to students and researchers and to with regulatory and regulated professionals.
Author | : Marver H. Bernstein |
Publisher | : Princeton University Press |
Total Pages | : 319 |
Release | : 2015-12-08 |
Genre | : Business & Economics |
ISBN | : 1400878780 |
A critical examination of the role of the independent regulatory commissions, attempting to develop a more realistic concept of the process of governmental regulation and to appraise the independent commission as an agent of governmental regulation at the national level. Originally published in 1955. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.