The place of government: setting the terms to promote competition

After outlining three weaknesses in the free market ascendancy characterizing the 1980s, it is argued that the right's efforts to shrink government through deregulation & entitlement reform ultimately failed because the market has a limited capacity to operate without government supervision...

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Bibliographic Details
Published in:Policy review (Washington, D.C.) D.C.), 2003-02 (117), p.21
Main Author: Mallaby, Sebastian
Format: Article
Language:English
Subjects:
Competition
Competition (Economics)
Deregulation
Economic policy
Electricity
Government
Government regulation of business
Industry
Industry regulations
Market Economy
Participation
Political aspects
Reform
Right Wing Politics
Trade regulation
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Summary:After outlining three weaknesses in the free market ascendancy characterizing the 1980s, it is argued that the right's efforts to shrink government through deregulation & entitlement reform ultimately failed because the market has a limited capacity to operate without government supervision. A need to recognize the pro-market/pro-competition distinction is stressed. The left's pro-regulation view is criticized before looking at the value of a pro-competition perspective that requires a balance of laissez-faire policies & government involvement; the electricity, airline, & telephone industries are considered. Adapted from the source document.
ISSN:0146-5945