Production costs and deregulation
Unlike some of the existing literature, our discussion implies that either (1) regulation lowers production costs and makes the gains to deregulation relatively small or (2) regulation increases production costs and makes the social and political gains to deregulation relatively greater. While some may not find alternative (1) credible, one thing is clear: claiming that the deregulatory gains are small because regulation increases costs is not an alternative society faces. Copyright Kluwer Academic Publishers 1989
References listed on IDEAS
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- Moore, Thomas Gale, 1986. "U.S. Airline Deregulation: Its Effects on Passengers, Capital, and Labor," Journal of Law and Economics, University of Chicago Press, vol. 29(1), pages 1-28, April.
- George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
- Cherkes, Martin & Friedman, Joseph & Spivak, Avia, 1986. "The Disinterest in Deregulation: Comment," American Economic Review, American Economic Association, vol. 76(3), pages 559-63, June.
- Lott, John R, Jr, 1987. "Licensing and Nontransferable Rents," American Economic Review, American Economic Association, vol. 77(3), pages 453-55, June.
- Jarrell, Gregg A, 1984. "Change at the Exchange: The Causes and Effects of Deregulation," Journal of Law and Economics, University of Chicago Press, vol. 27(2), pages 273-312, October.
- McCormick, Robert E & Shughart, William F, II & Tollison, Robert D, 1984. "The Disinterest in Deregulation," American Economic Review, American Economic Association, vol. 74(5), pages 1075-79, December.
- Marilyn R. Flowers, 1987. "Rent Seeking and Rent Dissipation: A Critical View," Cato Journal, Cato Journal, Cato Institute, vol. 7(2), pages 431-440, Fall.
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