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Capturing Regulatory Reality: Stigler’S The Theory Of Economic Regulation, Christopher Carrigan, Cary Coglianese
Capturing Regulatory Reality: Stigler’S The Theory Of Economic Regulation, Christopher Carrigan, Cary Coglianese
All Faculty Scholarship
This paper offers a retrospective assessment of economist George Stigler’s classic article, The Theory of Economic Regulation. Stigler argued that regulation is a product that, just like any other product, is produced in a market, and that it can be acquired from the governmental “marketplace” by business firms to serve their private interests and create barriers to entry for potential competitors. He challenged the idea that regulation arises solely to serve the public interest and demonstrated that important political advantages held by businesses can contribute to industry capture of the regulatory process. Although his argument was largely based on …
Defending A Mixed Economy, Herbert J. Hovenkamp
Defending A Mixed Economy, Herbert J. Hovenkamp
All Faculty Scholarship
This essay reviews Jacob S. Hacker's and Paul Pierson's very engaging book, American Amnesia: How the War on Government Led Us to Forget what Made America Prosper (2016).
From The Classical School To Today: The Evolution Of Stagnation Theories, Francis J. Lukacovic Ii
From The Classical School To Today: The Evolution Of Stagnation Theories, Francis J. Lukacovic Ii
Applied Economics Theses
The purpose of this thesis is to study the theory of secular stagnation, which was made famous by the American Keynesian economist Alvin Hansen in his book Full Recovery or Stagnation. The theory of secular stagnation has reappeared in economic circles today due to recent economic conditions since the financial crisis of 2007-2008. The thesis will analyze the history of the stagnation theory dating back to Classical economists in the 19th century. The concept of a stagnating economy has been talked about for centuries with many economists adding important thoughts. Furthermore, the thesis will address the current questions and …
Economic Consequences Of Conflict, Displacement And Humanitarian Aid: Implications For Syria, Molly S. Burns
Economic Consequences Of Conflict, Displacement And Humanitarian Aid: Implications For Syria, Molly S. Burns
International Development, Community and Environment (IDCE)
This report analyzes the complex relationships between conflict, displacement, aid, and economics. Providing a brief overview of the context of civil war in Syria and an analysis of development literature on micro- and macroeconomic consequences of conflict and displacement, it critically analyzes the role of emergency humanitarian aid in contribution to the persisting conflict in Syria. It then discusses relationships of humanitarian aid and conflict through past cases of war in Bosnia-Herzegovina and in Rwanda. These two case studies have been chosen in order to demonstrate how aid can inadvertently become contributive to funding war economies, and also how the …
European Union Membership And Levels Of Corruption, Kevin J. Morris
European Union Membership And Levels Of Corruption, Kevin J. Morris
The Corinthian
Recent accessions to the European Union (E.U.) membership have been met with protests as critics noted the widespread corruption still rampant in both recent and established member countries. Given the global ramifications of the debt crises in Italy, Spain, and Greece, determining the efficacy of the E.U. Accession Reforms and Membership Criteria on corruption reduction is vitally important. Using European and Central Asian country-level data from the World Bank’s Global Development and Global Indicator database regional-level fixed effects, I estimate the impact of EU membership on corruption levels and find that E.U. membership has a small, but significant impact on …