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Acemoglu and Robinson (2000) argue that historically economic rents have been less successful than political rents in preventing reform and innovation. Contrary to this conclusion I argue that the important margin of distinction for factors preventing deregulation is not whether rents are...
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recapture lost rents. Regulation policy under such reregulation tends to be more encompassing, and thus produces more … unproductive entrepreneurial activity, than preinnovation regulation policy. This reflects the greater number or variety of … producers that new regulation policy must encompass for reregulation to recreate rents. To investigate our argument we consider …
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This paper offers an eclectic survey of the political economy of labor regulation in the United States at federal and …
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This paper examines the relationship between entry regulation and the business interests of former President Ben Ali … regulation for private gain at the expense of reduced competition …
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regulation. Specifically, the Article demonstrates how basic terms in regulation, such as “government failure,” “regulatory … regulation and rent extraction or, more precisely, to emphasize that government inaction may entail undesirable income effects …
Persistent link: https://www.econbiz.de/10013031981
Price controls lead to misallocation of goods and encourage rent-seeking. The misallocation effect alone ensures that a price control always reduces consumer surplus in an otherwise-competitive market with convex demand if supply is more elastic than demand; or with log-convex demand (e.g.,...
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