Is government regulation of industry undertaken in the interest
of the public, or is it controlled by big business for big
business? In "Regulation," Jack High draws together six original
essays on the theory and history of regulatory activity in the
United States in a highly readable book that explores who benefits
from regulation---and how.
"Regulation" makes the case for an interdisciplinary dialogue
between economists and historians of regulation. The contributing
scholars examine some of the most economically important industries
in the country---airlines, utilities, telecommunications, sports,
and food---and offer suggestive insights about intraindustry
conflict, the interdependence of regulation and technology, the
relationship of regulation to industry structure, and the
"bureaucratic entrepreneurship" of regulators themselves. Since it
is applied to real-world regulatory episodes, the economic theory
presented is relevant and concrete; and the history, guided by the
logic of theory, has direction and focus.
High introduces the volume with a broad survey of ideas about
regulation since the turn of this century, marshalling the thoughts
not only of academicians but of industry leaders such as William
Randolph Hearst and journalists such as Joseph Pulitzer and H. L.
Mencken. He traces parallel developments in the work of economists
and historians of regulation throughout the twentieth century and
points toward areas that need further interdisciplinary
exploration.
"Regulation"'s avoidance of discipline-specific jargon will make
it accessible and appealing to a wide audience, from government and
academic specialists in regulation to more general readers. All
will be treated to a more complete and informed understanding of
trends and forces in American regulatory policy.
General
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