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George stigler’s theory of economic regulation at 50 - introduction to a special issue

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  • Diana W. Thomas

    (Creighton University, Heider College of Business)

  • Michael D. Thomas

    (Creighton University, Heider College of Business)

Abstract

Since its publication in 1971, George J. Stigler’s “Theory of Economic Regulation” (1971), secured its place as the dominant theory of the causes and consequences of regulation in economics. The article was cited by the economic Nobel prize committee as one of the reasons Stigler received the prize in 1982. In his article, Stigler (1971) frames the conversation regarding the “Theory of Economic Regulation” around an analysis of the political demand for and supply of regulation. Following the 50th anniversary of the 1971 paper, the contributors to this special issue evaluate the impact of his “Theory of Economic Regulation”, apply it to other policy questions, and summarize the literature produced in response to his original insight.

Suggested Citation

  • Diana W. Thomas & Michael D. Thomas, 2022. "George stigler’s theory of economic regulation at 50 - introduction to a special issue," Public Choice, Springer, vol. 193(1), pages 1-5, October.
    • Handle: RePEc:kap:pubcho:v:193:y:2022:i:1:d:10.1007_s11127-022-00993-3
    DOI: 10.1007/s11127-022-00993-3
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    References listed on IDEAS

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    1. George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
    2. Andrei Shleifer, 2010. "Efficient Regulation," NBER Chapters, in: Regulation vs. Litigation: Perspectives from Economics and Law, pages 27-43, National Bureau of Economic Research, Inc.
    3. Shleifer, Andrei, 2012. "The Failure of Judges and the Rise of Regulators," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262016958, December.
    4. Dustin Chambers & Courtney A. Collins & Alan Krause, 2019. "How do federal regulations affect consumer prices? An analysis of the regressive effects of regulation," Public Choice, Springer, vol. 180(1), pages 57-90, July.
    5. Sam Peltzman, 2022. "“The theory of economic regulation” after 50 years," Public Choice, Springer, vol. 193(1), pages 7-21, October.
    6. Germán Gutiérrez & Thomas Philippon, 2019. "The Failure of Free Entry," NBER Working Papers 26001, National Bureau of Economic Research, Inc.
    7. Dolar, Burak & Shughart II, William F., 2011. "Enforcement of the USA Patriot Act's anti-money laundering provisions: Have regulators followed a risk-based approach?," Global Finance Journal, Elsevier, vol. 22(1), pages 19-31.
    8. Jordan, William A, 1972. "Producer Protection, Prior Market Structure and the Effects of Government Regulation," Journal of Law and Economics, University of Chicago Press, vol. 15(1), pages 151-176, April.
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