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Deregulation: The Anatomy of a Catchword

  • Kurt Rothschild

Abstract

The question of the desirability and extent of state intervention in market processes is a recurrent theme almost as old as economic theorizing itself. Starting with the confrontation between the laissez-faire ideology emanating from Manchester and its sceptical opponents in the less developed nations (List in Germany, Carey in the United States), the question resurfaces in the never-ending free trade-protectionism debate, the battle between Chicago/Freiburg liberals and Keynesian interventionists, and so on and so forth. With the wave of conservatism that began in the early 1970s, there has been a noticeable shift in these seesaw discussions in favour of market-oriented policies, with ‘deregulation’ and ‘privatization’ emerging as popular catchwords. My aim is to look a bit more critically at the recent battle-cry for deregulation.

Keywords

Market Process Allocative Efficiency Positive Theory Mixed Economy Pareto Optimal Outcome 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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References

  1. Frey, B.S. (1981) Theorie demokratischer Wirtschaftspolitik, München, Vahlen-VerlagGoogle Scholar
  2. Jöhr, W.A. (1954) ‘Regulation of competition’, in E.H. Chamberlin (ed.) Monopoly and Competition and Their Regulation, London, MacmillanGoogle Scholar
  3. Rhoads, S.E. (1985) The Economist’s View of the World, Cambridge, Cambridge University PressGoogle Scholar
  4. Stigler, G.J. (1975) The Citizen and the State: Essays on Regulation, Chicago, IL, University of Chicago PressGoogle Scholar

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Limited 1999

Authors and Affiliations

  • Kurt Rothschild

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