MacAvoy shows how antitrust and regulation have failed to make long-distance markets competitive, to the detriment of consumers seeking prices in line with the costs of providing long-distance services.
The standard wisdom among political scientists has been that "iron triangles" operated among regulatory agencies, the regulated industries, and members of Congress, all presumably with a stake in preserving regulation that protected the industries from competition. Despite almost unanimous agreement among economists that such regulation was inefficient, it seemed highly unlikely that deregulation could occur. Yet between 1975 and 1980 major deregulatory changes that strongly favored competition did take place in a wide range of industries. The results are familiar to airline passengers, users of telephone service, and trucking freight shippers, among others. Martha Derthick and Paul J. Quirk ask why this deregulation happened. How did a diffuse public interest prevail over the powerful industry and union interests that sought to preserve regulation? Why did the regulatory commissions, which were expected to be a major obstacle to deregulation, instead take the initiative on behalf of it? And why did influential members of Congress push for even greater deregulation? The authors concentrate on three cases: airlines, trucking, and telecommunications. They find important similarities among the cases and discuss the implications of these findings for two broader topics: the role that economic analysis has played in policy change, and the capacity of the American political system for transcending narrow interests.
Allaying public fears of a potential energy shortage leading to a downfall of the economy, energy consultant Paul Ballonoff maintains that energy is a manufactured product. Ballanoff claims energy is no different from any other commodity, which will be produced as needed--and the best federal policy is no energy policy at all.
Government regulates the energy industry far more intensely than it does other sectors of the economy. Economist Paul Ballonoff argues that the case for special regulation of energy is based on myths that serve only to fatten special-interest groups at the expense of energy consumers. This book dismantles the arguments for energy regulation, accuses energy regulation of causing—not remedying—the various diseases it attempts to cure, and makes the case for fully returning control of the energy sector of the economy to market forces. The best energy policy is no policy at all.
A supplemental text for courses in environmental economics, environmental science, and environmental politics. Writing style is nontechnical and accessible. This second edition is revised to account for changes in the institutional, legal, and regulatory framework of environmental policy, with updated chapters on EPA and federal regulation, air and water pollution policy, and hazardous and toxic substances. There are new chapters on market-based environmental policies, global climate change, and solid waste. Portney is president and senior fellow of Resources for the Future. Stavins is professor of business and government and faculty chair of the Environment and Natural Resources Program at Harvard University. Annotation copyrighted by Book News, Inc., Portland, OR
The growing public concern over rapidly rising health care costs, particularly hospital care, is understandable, with direct and indirect expenditures now amounting to about $100 billion each year. In this book, economist Paul Joskow explores the reasons for these increasing costs, the burdens of excessive hospital expenditures on the economy; and the government's role in reducing them and eliminating inefficiencies that plague the system.
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