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Regulatory reform

In: Transport Deregulation

Author

Listed:
  • Kenneth Button

Abstract

Attitudes towards the regulation of industry have changed considerably since the mid-1970s. Whereas prior to that time the consensus view was that because of the scale and frequency of market failures it was important for government to take an active role in regulating industry, since then there has been a gradual withdrawal of the state from regulation and control. This is a phenomena which is most clearly seen in Eastern Bloc countries as market forces have gradually been allowed to play a part in the economic systems of many of these states. It has particularly been seen in many of the primarily agricultural communist countries, such as the Republic of China, where peasants have been permitted to produce for the market and to have rights over their own patches of land. While changes have not been as dramatic in Western industrialised states, mainly because in relative terms they have never been so rigorously controlled as their Eastern Bloc counterparts, they have, nevertheless been extremely significant.

Suggested Citation

  • Kenneth Button, 1991. "Regulatory reform," Palgrave Macmillan Books, in: Kenneth Button & David Pitfield (ed.), Transport Deregulation, chapter 1, pages 1-23, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-21616-1_1
    DOI: 10.1007/978-1-349-21616-1_1
    as

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