Regulation

Goverment regulation.

Articles from Vol. 29, No. 1, Spring

A Collapsing Housing Bubble?
Anytime there is a consensus about the future, it is probably wise to bet against it. In the past couple of years, predictions about home prices have one from a sober questioning of future price growth to shrill apocalyptic predictions of an impending...
A Private Auction of Opportunities: Is Protectionism a Legitimate State Interest?
PROTECTIONISM IS PROBABLY AS OLD AS government. In 1621, the great English jurist Sir Edward Coke told Parliament that the private interest groups that lobbied in favor of tariffs and other trade barriers were like a man in a rowboat: "They look one...
Demand Response and Advanced Metering: California's Experiment Shows the Promise of Dynamic Pricing
CONGRESS HAS MADE DEMAND RESPONSE (DR) part of federal energy law. The Energy Policy Act passed last August says, "It is the policy of the United States to encourage States to coordinate, on a regional basis, State energy policies to provide reliable...
Drug Safety: One Step Forward, One Step
Far too many people suffering from an asthma attack or migraine headache have had their misery increased by the very thing that should bring them relief: the government-approved labeling of their medicine. Drug information labels, found on paper inserts...
Evaluating the Welfare Effects of Drug Advertising: Consumer Behavior Indicates Broadcast Drug Ads Have Positive Health Benefits
IN AUGUST OF 1997, THE FOOD AND DRUG Administration changed the rules for the broadcast of direct-to-consumer advertising (DCA) of prescription drugs. There is a clear divide in public policy circles over the consequence of this change. Many groups...
Guidance for Guidances
Status: OMB has proposed guidelines for guidance practices In 1946, following the explosive growth of the federal government and its regulatory power during the New Deal and World War II eras, Congress passed the Administrative Procedure Act (APA)...
Much Ado about Notification: Does the Rush to Pass State-Level Data Security Regulations Benefit Consumers?
CONGRESS AND THE STATES ARE MOVING rapidly to enact new legislation in the wake of a series of high-profile data security breaches at both private and public institutions. A major objective of all the pending bills is to require that consumers be notified...
Predatory Pricing and Consumer Harm
In "The Perverse Effects of Predatory Pricing Law" (Winter 2005-2006), Daniel Crane argues that giving standing to predatory pricing cases will cause more harm than good, even if successful predation exists. He gives two reasons. First, such cases,...
Remembering the Man Behind Rational Expectations: John Muth (1930-2005)
FEW IDEAS HAVE HAD AS MUCH OF AN effect on the science of economics as the concept of rational expectations. The idea is deceivingly simple: Buyers and sellers who need to guess future prices do not merely assume that they will be the same as previous...
Spectrum Commons
Status: FCC examining petitions for reconsideration of final rules In polite society, dogmatism is a sign of an unsophisticated mind. This might explain the eager efforts of many to establish a "third way" in politics, economics, religion, and other...
The Hobby Privilege
I'VE RECENTLY RETURNED FROM A VISIT TO Florida, which--friends and family will know--means that I've also recently returned from a visit to a gun range. It's not that I'm a gun nut. Far from it. After my one previous gun adventure, my thumbs were so...
The Katrina Success Story You Didn't Hear
ALL LEVELS OF GOVERNMENT, MUCH LIKE most of Louisiana, did not emerge from Hurricane Katrina looking very good. However, while the media fixated on the federal government's failures, they ignored the quiet successes achieved by the regulatory restraint...
Time to Disembark
END OF THE LINE: The Failure of Amtrak Reform and the Future of America's Passenger Trains By Joseph Vranich 265 pages; AEI Press, 2004 Whenever I think of Amtrak, I am reminded of the old "Peanuts" cartoons where Lucy is holding the football and...
Two Invisible Hands
The conservative movement in the United States is suffering from a deep intellectual inconsistency in its beliefs. Free market conservatives (such as myself) believe that markets can effectively coordinate economic activity with no central direction....
What's Old Is New: The Problem with New Source Review: Grandfathering Has Become an Invitation to Rent-Seeking
THE U.S. DEPARTMENT OF JUSTICE CONTINUES to press on with litigation against those suspected of violating the Clean Air Act's "New Source Review" provisions. New Source Review requires the installation of state-of-the-art pollution-control equipment...
When Scientists Politicize Science: Instead of Claiming There Is Just One Policy Response to a Given Issue, Scientists Should Provide a Range of Options for Policymakers
IN RECENT YEARS AND IN DIFFERENT COUNTRIES, combatants on opposing sides of highly contentious debates related to the environment, medicine, and even national security have frequently asserted that science compels their favored political perspective....