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verkuilclass1 - • Windfall profits – oil • Non-market...

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Fundamental Distinction Public Law v. Private Law Constitution v. Contracts, Torts, Property Statutes v. Common Law Rights v. State – Duty to State Regulatory Law (Bill of Rights)
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Bases for Regulation Monopoly – market failure Subsidize information (availability heuristic p 5) Collective action problems Environment Global warming Externalities – tragedy of the commons
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Unformatted text preview: • Windfall profits – oil • Non-market values – preferences overridden • English law – rule of law Adam Smith / Dec. of Independence (1776) • Rise of regulation ICC-IND Agency • New Deal – Expertise Model NRA, SEC, NLRB • APA (1946) • Post 1960 Public Interest Regulation • Cost/Benefit Stat (p. 26) XO12,866...
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