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Full-Text Articles in Economics
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 …
The Unmaking Of An Embargo: How Policy Entrepreneurs At The Individual, State, And National Levels Are Creating New Paths For Policy Change In Modern United States-Cuba Relations, Kyle C. Griffith
University of New Orleans Theses and Dissertations
Throughout the Cold War antagonisms of the twentieth century, the United States (US) championed greater global economic cooperation and an embrace of free market principles to encourage economic growth. Post World War II, passage of the Bretton Woods Agreement institutionalized this political agenda effectively establishing the rules of global commerce. The result has been increased economic participation and trade liberalization. One of the last remaining vestiges of Cold War hostility and impediments to trade is the US economic embargo of Cuba, in place since 1960. Increasingly seen as a policy failure, the US has taken steps in the past two …