Stigler's Economic Theory Of Regulation: The Semicentennial
by Timothy Taylor, Conversable Economist
I’ve found that the word “regulation” is a sort of Rorschach test on which many people project their broader political beliefs. Some are deeply suspicious of any proposals that can be characterized as “deregulation,” and predisposed to favor “regulation” even before knowing the details of the proposal. These people tend to begin with a belief that private market actors are almost also pushing up to and beyond the edge of what is good for society, and thus comfortable with a presumption that government pushback in the form or regulation may help.
Source: http://econintersect.com/pages/analysis/analysis.php?post=202104260250
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