Regulation

Goverment regulation.

Articles from Vol. 30, No. 4, Winter

A Gene-Splicing Contrivance
"If you put the federal government in charge of the Sahara Desert, in five years there would be a shortage of sand," Milton Friedman once quipped. That is certainly true of the international bureaucrats I rubbed elbows with in September during the...
Anti-Conservation Incentives: The Endangered Species Act Is Endangering Species
In early 2006, landowners in Boiling Springs Lakes, N.C., began clear-cutting timber from their property after the U.S. Fish and Wildlife Service (FWS) announced that development could threaten local red-cockaded woodpecker populations. The FWS released...
A Regulatory Play in Two Acts
CHARACTERS Chorus Cable VP Cable CEO FCC Chair Trusted Staffer PROLOGUE Enter Chorus Chorus An old regulatory rule says the Federal Communications Commission can strictly regulate the cable industry once cable penetration...
Big Banks, Not Small Businesses, Benefit from the SBA
Congress created the Small Business Administration in 1953 in part to help small businesses borrow money. Proponents of the new agency argued that banks often failed to make loans to small businesses that, if given the loans, would prosper and contribute...
Calculating the 'Big Kill': CDC Estimates of Smoking-Related Deaths Do Not Add Up
In 1985, the British Medical Association and Health Education Council published The Big Kill, a series of booklets estimating the number of people killed by smoking in England and Wales. Assigning a "precise" number of deaths to a risky behavior provided...
Cap This Discussion
Resources for the Future scholars Ian Perry and William Pizer ask whether a carbon tax or a cap-and-trade program would be the better strategy for reducing greenhouse emissions. (Their implicit assumption, of course, is that greenhouse gases present...
Has the Pendulum Swung Too Far? Post-Enron Responses to Possible Corporate Crime Have Created a Climate of Fear for Honest Corporate Officers
The prosecution of corporate fraud has garnered increasing attention in recent years. A number of high-profile cases have captured headlines, sent the involved firms into death spirals, destroyed the careers of numerous managers, and sent many executives...
Intellectual Property and the Law of Land: A Reply to Richard Epstein
In his response (pp. 58) to my Fall Regulation article "Intellectual Property and the Property Rights Movement," Professor Richard Epstein misses the gist and key implications of my essay on the extension of the "property" tent to encompass intellectual...
Markets and Global Warming
The idea that the world, and in particular the United States, must do something to reduce the threat of global warming is now a major source of discussion in the seats of political power. It is generally accepted that some governmental action must...
Philadelphia Story
In June 2007, the U.S. Environmental Protection Agency proposed a further reduction of the National Ambient Air Quality Standard (NAAQS) for ozone. The original standard was set in the wake of the 1970 Clean Air Act. It has been revised twice in the...
Private Securities Exchanges
Government deregulation may create benefits that manifest themselves long after a reform occurs because deregulation acts as a catalyst for innovation. The recent development of a private securities exchange spearheaded by several financial institutions...
The Failure of U.S. Organ Procurement Policy: "How Many Deaths Will It Take 'Til We Know That Too Many People Have Died?"
As anyone even vaguely familiar with the organ transplantation industry is keenly aware, there is a severe and longstanding shortage of human organs made available for transplant in both the United States d abroad. Every year for at least the last...
The Missing Link between Insider Trading and Securities Fraud: Stockholders Always Lose in a Securities Fraud Class Action
It has been nearly 40 years since the Second Circuit handed down its landmark opinion in SEC v. Texas Gulf Sulfur Company. In that case, Texas Gulf Sulfur (TGS) had found an unusually rich deposit of ores near Timmins, Ontario. When rumors of the strike...
The Property Rights Movement and Intellectual Property: A Response to Peter Menell
The fall issue of Regulation contains a provocative attempt by University of California, Berkeley law professor Peter Menell to discredit what he calls the property rights movement (PRM) for its supposed "absolutist" stance on intellectual property...
The Terrible 'Ifs': U.S. Defense Policy Makers Have Adopted the Precautionary Principle
The United States employs a version of the precautionary principle when it confronts threats to national security. We spend vast amounts on defenses against threats unlikely to affect Americans. Experts, defense officials, and politicians justify the...
Trading, Taxes, Regulation, or OPEC?
In "Combating Global Warming" (Fall 2007), Ian Parry and William Pizer of Resources for the Future offer an extensive discussion comparing cap-and-trade with a carbon tax. They end up accepting a combination of the two systems, with a noticeable tilt...
Transparency
If you have ever visited a regulatory agency's website, you know there is much to be desired. There is neither the powerful simplicity of Google nor the robust diversity of a commercial database such as Lexis. Those firms strive to ensure that the...
Water on the Brain
We're not supposed to drink bottled water anymore. You know the eco-geniuses behind low-flush toilets and reusable air-sickness-bags? Well, now they've decided that we're more likely to overuse the Earth's store of potable water when we fork over $2...