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Journal Article
The Theory of Economic Regulation
George J. Stigler
The Bell Journal of Economics and Management Science
Vol. 2, No. 1 (Spring, 1971), pp. 3-21
Published
by: RAND Corporation
DOI: 10.2307/3003160
https://www.jstor.org/stable/3003160
Page Count: 19
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Topics: Industrial regulation, Occupational licensing, Voting, Regulatory theory, Truck farming, Political parties, Insurance regulation, Trucking
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Abstract
The potential uses of public resources and powers to improve the economic status of economic groups (such as industries and occupations) are analyzed to provide a scheme of the demand for regulation. The characteristics of the political process which allow relatively small groups to obtain such regulation is then sketched to provide elements of a theory of supply of regulation. A variety of empirical evidence and illustration is also presented.
The Bell Journal of Economics and Management Science © 1971 RAND Corporation
