Stigler (1972). The Theory of Economic Regulation.
George Stigler
Companies seek regulations to make themselves richer. Regulations limit entry, allowing them to keep prices high and discourage rent seeking (rent seeking: grabbing a share of the public treasure chest).
Companies seek regulations to make themselves richer. Regulations limit entry, allowing them to keep prices high and discourage rent seeking (rent seeking: grabbing a share of the public treasure chest).
posted by meredith c. at 10:35 PM
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