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In Forty Years on the Regulatory Commons, Bruce Yandle writes,

Ours is a regulatory capitalism where regulators and the regulated are intertwined in symbiotic cartel-forming ways that often make working the halls of Congress and regulator offices far more profitable for firms and organizations than struggling in labs, stores, and service organizations to earn consumer patronage.

Read the whole essay, depressing as it is. But I don't think his proposals, to subject the process of regulation to more regulation, are the answer. I go to my all-purpose solution, of radical Federalism or competitive government, as sketched out in the widely unread Unchecked and Unbalanced (currently number 838,571 on Amazon's list of top-selling books).

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CATEGORIES: Regulation and Subsidies

COMMENTS (3 to date)

Latest Comment

Joel writes:

Are you willing/able to lower the Kindle price? $16 is really expensive for a Kindle edition.

Posted June 27, 2011 9:03 PM

Dan Hill writes:

What Joel said.

You've got a product with low marginal cost for the dead tree version and virtually zero marginal cost for the Kindle version. It's not selling. If you were teaching this in class, wouldn't you be teaching that the rational (profit maximising) strategy is to lower the price significantly?

Posted June 28, 2011 9:54 AM

Joe Cushing writes:

"widely unread"

Did you do a radio book tour? Did you do a Cato book forum? Did you go on Econ talk? I think I did hear you talk about the book on one of these venues but I'm not sure which.

I thought kindle books were typically $10.

Posted June 28, 2011 11:49 PM

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