Abstract
Attitudes towards the regulation of industry have changed considerably since the mid-1970s. Whereas prior to that time the consensus view was that because of the scale and frequency of market failures it was important for government to take an active role in regulating industry, since then there has been a gradual withdrawal of the state from regulation and control. This is a phenomena which is most clearly seen in Eastern Bloc countries as market forces have gradually been allowed to play a part in the economic systems of many of these states. It has particularly been seen in many of the primarily agricultural communist countries, such as the Republic of China, where peasants have been permitted to produce for the market and to have rights over their own patches of land. While changes have not been as dramatic in Western industrialised states, mainly because in relative terms they have never been so rigorously controlled as their Eastern Bloc counterparts, they have, nevertheless been extremely significant.
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© 1991 Kenneth Button and David Pitfield
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Button, K. (1991). Regulatory reform. In: Button, K., Pitfield, D. (eds) Transport Deregulation. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-21616-1_1
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