Regulation and Antitrust Economics

Author: Little Giles Burgess
Publisher:
Publish Date: 2003-03-01
Features: This book can serve as a basic course in economics or business for university students on government regulation and the market. The course has various names, including "Regulatory Economics," "Government Regulation of the Market," and "Government and Business." Governments attempt to control the operation of markets in certain specific ways through regulation, and regulation has been proven to be an important factor in the continuous evolution of the "mixed economy." Although the market plays a central role in the institutions we call the private economy, the government still has the ability to intervene in the market when it deems appropriate. Regulation and Antitrust Economics is divided into the following four parts: Part I introduces the topic and explains the political and economic ideas that support three main forms of regulation. Part II discusses the principles of regulation for public utilities (or natural monopolies) and the transportation industry. Part III discusses the principles of antitrust. A brief review of industrial organization analysis is provided to illustrate the differences between the "Harvard" school and the "Chicago" school, laying the foundation for economic evaluation of antitrust; a brief historical explanation of case law is given to explain its role. Part IV discusses social regulation and the principles of quality standards. The establishment and implementation of social regulation and quality standards are aimed at protecting the environment, as well as the health and safety of consumers and workers.