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Industry Regulation and the Performance of the American Economy (Paperback, New)
Loot Price: R571
Discovery Miles 5 710
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Industry Regulation and the Performance of the American Economy (Paperback, New)
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Loot Price R571
Discovery Miles 5 710
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Regulation reached its zenith in the 1960s. The 1980s was the
decade of deregulation. The 1990s afford us an important
opportunity to assess what is left of regulation and its impact on
the economy. And who better to do this than Paul W. MacAvoy, one of
America's most respected experts on the economics of industry?
Beginning with the Act to Regulate Commerce of 1887, Professor
MacAvoy traces the rise of regulation over one hundred years to its
sharp curtailment in the 1980s. Originally invoked as a means of
controlling the prices set by monopolies, this policy tool found
extended use in the last quarter-century to do everything from
keeping down energy prices to protecting the health and safety of
workers and the quality of the environment. In most cases
regulation has been founded on the best of intentions, but as the
deregulation of the airline, trucking, and railroad industries in
the 1980s made clear there are other ways of achieving social
objectives. It is thus useful to ask whether the remaining
regulation is having its intended effects, as well as whether there
are more effective ways of achieving those same objectives,
including strict reliance on open and competitive markets. With
this comprehensive study of the economywide effect of regulation,
Paul MacAvoy considers just this issue. His analysis begins with
price regulation, assessing its impact in terms of lost growth in
output due to rigid prices and declining quality of service. He
then does the same for health, safety, and environmental protection
regulation, this time measuring the higher costs from regulatory
standards against safer working conditions and better air quality.
He finds that regulation is expensive, particularly when you
consider that there are other ways to achieve both greater consumer
welfare and a larger economy. In a concluding chapter, Professor
MacAvoy looks at regulatory reform and finds plenty of room for
further reductions in regulation.
General
Imprint: |
W W Norton & Co Inc
|
Country of origin: |
United States |
Release date: |
March 1992 |
First published: |
March 1992 |
Authors: |
Paul W MacAvoy
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Dimensions: |
211 x 140 x 13mm (L x W x T) |
Format: |
Paperback
|
Pages: |
160 |
Edition: |
New |
ISBN-13: |
978-0-393-96186-7 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
0-393-96186-9 |
Barcode: |
9780393961867 |
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