Regulation

Goverment regulation.

Articles from Vol. 35, No. 1, Spring

Antitrust Regulators and the Chicago School
We found the article by Erwin Blackstone, Larry Darby, and Joseph Fuhr, Jr. ("The Case of Duopoly," Winter 2011-2011) an interesting and useful piece on the lack of empirical or theoretical support for the market structure/performance relationship....
A Welfare State by Any Other Name
Americans and Europeans both take perverse joy in criticizing each other's welfare system. According to the typical European, the U.S. system leaves elderly and poor Americans exposed to hunger, minimal shelter, and meager health care. Most Americans,...
Does Product Liability Make Us Safer? Adverse Consequences Arise from Problems with the Judicial System and Jurors' Judgment Biases
Tort liability for personal injuries and property damage caused by products is known as product liability. Among the most prominent products associated with product liability claims are pharmaceuticals, medical devices, private aircraft, automobiles,...
First-Year Grades on Obama Regulatory Reform
On January 18, 2011, President Obama issued Executive Order 13563, which promises to "protect public health, welfare, safety, and our environment while promoting economic growth, innovation, competitiveness, and job creation." The order instructs federal...
Net Neutrality: Wrong Remedy, Wrong Illness
I've long been a fan of Gerald Faulhaber's analyses of the telecommunications industry, and his recent article on net neutrality ("The Economics of Network Neutrality," Winter 2011-2012) is no exception. I just want to supplement his assessment with...
Paying Bank Examiners for Performance: Should Regulators Receive Bonuses for Effectively Guarding the Public Interest?
Few doubt that executive compensation arrangements encouraged the excessive risk taking by banks that led to the financial crisis of 2008. Accordingly, academics and lawmakers have called for the reform of banker pay practices. But regulator pay is...
Regulation Goes Medieval; the Federal Credit CARD Act Is a Setback for the Rights of Young People
In the middle ages, the English courts held that one is an "infant" in the eyes of the law until age 21. This rule persisted until the late 20th century, when Americans came to believe that if 18-year-olds are "old enough to fight" in Vietnam, they...
Taxi Medallions Coming to a City near You
[ILLUSTRATION OMITTED] Last fall, the New York Times reported that two New York City taxicab medallions had sold for $1 million apiece, a new record. In New York City as well as a few other major cities, a taxicab needs to possess a medallion to...
What We Should Do about Social Security Disability: A Response to Richard J. Pierce, Jr
In an article in the Fall 2011 issue of Regulation, George Washington University law professor Richard J. Pierce, Jr. considers the rising cost of Social Security disability benefits and asks (in the words of his title), "What Should We Do about Social...
William A. Niskanen: 1933-2011
Last October 26, William A. Niskanen passed away at age 78. There is no way to briefly summarize his contributions to public policy, the Cato Institute, or Regulation. Instead, in tribute to Bill, the following pages offer remembrances from his colleagues...