Private and public interest theories of regulation essay

By far the most influential is the vision grounded in laissez-faire individualism and free-market economics that promises greater efficiency, a smaller government, and more individual choice if only we expand the domain of property rights and market forces.

Detailed regulation inevitably limits the freedom of public broadcasters and it is inconsistent with running services in a fully commercial manner. Limits on the rail operators' ability to increase revenues through fare increases, which were politically unpopular, were a contributing factor toward the decline of many urban rail systems.

On the other side regulators are also motivated by self interest, they are not concerned with public interest. Of course, the legal differences may or may not matter; autonomy is never guaranteed purely by formal structure.

Some of these properties, such as broadcasting stations, are not simply economic but political assets; the incumbent government gains obvious advantage by placing them in the hands of political allies.

In cost-benefit analysis the costs and benefits are discounted for present time. In the wealthier countries it is easy to treat privatization purely as a question of domestic policy.

LUBA ; see also Teegarden v. While air mail was initially provided by the US government between andthe Kelly Act contained provisions that required the US Post Office Department to contract with commercial air carriers for the delivery of air mail on intercity routes.

Monitor, July 17at 21; Smith. As I define the term, privatization may include policies anywhere along this spectrum; however, the implications of privatization vary with its degree. Noting that the similarities between the instant case and Lucas, the South Carolina Court applied the notice rule to foreclose just compensation.

City of Portland, 57 F3d,9th cir. To understand this, one must understand the exceptions to the categorical taking rule. But in a longer perspective, their constitution and separation represent complementary processes.

Corporate Social Responsibility

In addition to subsidization, other instruments that may be used by government to promote infant industries include regulations on entry entry barriers or regulations mandating the supply of a specific quantity of a good. City of Tiburon, U.

Introduction to Public Choice Theory

And it is a critical question whether moving from public to private in the sense of state to non-state entails a movement in the other senses: Where regulatory bodies are involved, the threat of regulation if not actual use can sometimes be used in order to achieve compliance.

Talk by Lester Thurow, Williamsburg, Va.Georgia State University ScholarWorks @ Georgia State University Economics Dissertations Department of Economics Summer Essays on Fiscal Policy and Economic Growth.

25 Differences Between Private Sector and Government Managers

Choose a faculty member with a similar area of interest. All supervisions should be with – Theories of Regulation and Governance (x. ) Professor ([email protected]) Room C LA – Political Theory – Police Science; Public, Private and Quasi-public Policing – Security and Anti-security – Marxian Political Economy.

Essay Samples Essays are separated into four types: exposition, argument, narration and description. Each essay type serves its own unique purpose. Regulation as Accounting Theory Michael Gaffikin Theories of regulation are discussed and compared. Some important issues relating to regulation as a substitute for research in creating theory as discussed.

Over the years there have been many arguments and debates over the necessity for regulation. Two main theories of economic regulation have been proposed. One is the "public interest" theory, bequeathed by a previous generation of economists to the present generation of lawyers.

This theory holds that regulation is supplied in response to the demand of the public for the correction of inefficient or inequitable market practices. Frank Fetter of Princeton University was one of the great American Austrians, and perhaps the most lucid defender of the "pure time preference" theory of interest in the history of economic ideas.

Rothbard learned from him, and then collected his best work into a single volume that works as a reader.

Private and public interest theories of regulation essay
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