Lecture03up - Regulatory Responses to the Regulatory...

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Unformatted text preview: Regulatory Responses to the Regulatory Responses to the Railroad Problem Railroad Problem Sunshine Commissions, Direct Statutory Sunshine Commissions, Direct Statutory Regulation, and Independent Regulatory Regulation, and Independent Regulatory Commissions Commissions The Market Regime: An Overview The Market Regime: An Overview Basics The Market Regime: An Overview The Market Regime: An Overview Basics Core tenet: Belief in the salutary benefits of competition in the market place The Market Regime: An Overview The Market Regime: An Overview Basics Core tenet: Belief in the salutary benefits of competition in the market place Competition as an efficient regulatory tool The Market Regime: An Overview The Market Regime: An Overview Basics Core tenet: Belief in the salutary benefits of competition in the market place Competition as an efficient regulatory tool Accomplishes ends with a minimum of government intrusion The market is neutral; it takes no sides in struggle for economic advantage The Market Regime: An Overview The Market Regime: An Overview Basics Core tenet: Belief in the salutary benefits of competition in the market place Competition as an efficient regulatory tool Accomplishes ends with a minimum of government intrusion The market is neutral; it takes no sides in struggle for economic advantage Wherever possible, the competitive market should be preserved The Market Regime: An Overview The Market Regime: An Overview A role for the state #1 Government should use its coercive powers to punish efforts to restrain or suppress competition The Market Regime: An Overview The Market Regime: An Overview A role for the state #1 Government should use its coercive powers to punish efforts to restrain or suppress competition The market regime is not a laissez-faire regime The Market Regime: An Overview The Market Regime: An Overview A role for the state #1 Government should use its coercive powers to punish efforts to restrain or suppress competition The market regime is not a laissez-faire regime #2 There should be rules of the game in the marketplace Role for govt in helping to define and enforce rules The Market Regime: An Overview The Market Regime: An Overview One qualification : Recognition that sometimes competitive markets fail The Market Regime: An Overview The Market Regime: An Overview This implies a need for some permanent government institutions Institutions with the authority , resources , and expertise effectively to oversee business decision making and police market behavior Lecture Overview: Responses to Lecture Overview: Responses to the Railroad Problem the Railroad Problem State-level responses to the railroad problem came in three flavors Lecture Overview: Responses to Lecture Overview: Responses to the Railroad Problem the Railroad Problem...
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Lecture03up - Regulatory Responses to the Regulatory...

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