Module 5 Lecture 1 and 2

Module 5 Lecture 1 and 2 - I. II. A.:Health,Safety...

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LECTURE ONE: GOVERNMENT  REGULATION OF BUSINESS I.   The Role of Law in a Market Economy II.   Two Kinds of Government Regulation  A.  Social or Protective Regulation: Health, Safety,         Environment, Equity B.   Economic Regulation: the Structure or Terms of Market        Competition  III.   Trends in Government Regulation A.  1960- 1990: the Growth of Social Regulation: response to  public pressures  B.   Mid- 1970s – through present : 1.Economic Deregulation: airlines, financial services,           telecommunications, trucking   2. Increases in Economic Regulation: Sarbines-Oxley,                                         Dodd-Frank  
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The Rationale for Government  Regulation of Business: The Causes  of Market Failures   1.   Natural monopolies 2.  Restraint of trade: price fixing and  monopolies   3.  Externalities  4.  The tragedy of the commons 5.  Information Asymmetries - Paternalistic          Regulations  6.  Fairness and equity
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  • Spring '10
  • Robinson
  • government regulation, Government Regulation  A., Protective Regulation, Regulation  A.  Social, B.   Economic Regulation

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