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The Effect Of Right-To-Work Laws On Unionization In The United States, H. Craig Petersen, Keith Lumsden
The Effect Of Right-To-Work Laws On Unionization In The United States, H. Craig Petersen, Keith Lumsden
Economics and Finance Faculty Publications
State right-to-work laws, the subject of considerable controversy in the industrial relations field, typically state that no person will be required to become a union member or, conversely, be required to abstain from union membership as a condition of obtaining or retaining employment. Little hard evidence exists on the effect of right-to-work laws. Meyers (1955) concludes that in Texas the law does not appear to have had a noticeable impact on union strength. Kuhlman (1955) finds that the Virginia law has caused little change in hiring practices, and he cites lack of enforcement as a major cause. Novit (1969), in …
An Empirical Test Of Regulatory Effects, H. Craig Petersen
An Empirical Test Of Regulatory Effects, H. Craig Petersen
Economics and Finance Faculty Publications
Averch and Johnson have provided analytical support for the assertion that rate of return regulation causes inefficient production because of the overuse of capital. Empirical evidence in support or refutation of their thesis is just beginning to appear. This paper provides additional evidence. The regulated firm's objective is stated in terms of cost minimization subject to a regulatory constraint. The effect of changes in the allowed rate of return on capital are evaluated. It is shown that as the allowed return approaches the cost of capital, costs increase and the percentage of total costs paid to capital also increases. These …