In his pathbreaking article, Ronald H. Coase postulated that the structure of production was determined by the comparative advantage between contracting and hierarchy in securing and coordinating complementary resources (human or material) when the efforts of more than one person were required...

The economic theory of regulation posits that regulation is a service offered by self-regarding government officials to well-organized interests at the expense of the general public. Airline regulation has often been cited as a classic example, in which a naturally competitive industry was...