Romance, Realism, and Economic Reform.
This paper applies the theory of rent seeking to argue that economic reform, in the sense of correcting past deformities in the economy, does not pay from a social point of view. Economic reform, at best, should focus on the prevention of future deformities. The analysis is developed in terms of the example of monopoly, but its applicability extends to any example of economic reform. The general principle underlying the analysis is that reform is not a free lunch, all the more so when the costs of the reformer and the resistance of the object of reform are taken into account. Copyright 1991 by WWZ and Helbing & Lichtenhahn Verlag AG
Year of publication: |
1991
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Authors: | Tollison, Robert D ; Wagner, Richard E |
Published in: |
Kyklos. - Wiley Blackwell, ISSN 0023-5962. - Vol. 44.1991, 1, p. 57-70
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Publisher: |
Wiley Blackwell |
Saved in:
Saved in favorites
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