m2l1 - services, telecommunications, trucking 2. Increases...

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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
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Unformatted text preview: services, telecommunications, trucking 2. Increases in Economic Regulation: Sarbines-Oxley, Dodd-Frank Financial Reform legilsation The Rationale for Government Regulation of Business: The Causes of Market Failures 1 . Natural monopolies 1.Restraint of trade: price fixing and monopolies 3. Negative externalities 1.The tragedy of the commons: collective goods 2.Information Asymmetries 3.Fairness and equity...
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m2l1 - services, telecommunications, trucking 2. Increases...

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