Economic Regulation vs. Competition: Ralph Nader and Creeping Capitalism
1973; The Yale Law Journal Company; Volume: 82; Issue: 5 Linguagem: Inglês
10.2307/795534
ISSN1939-8611
Autores Tópico(s)Economic Theory and Institutions
ResumoAs one who has criticized Mr. Nader and his associates for advocating more and more economic regulation while simultaneously documenting its past failures,' I applaud much of what is said in the preceding pages.The unqualified statements that "present economic regulation lacks both a comprehensive theory and a consistent goal .. ."and "that our unguided regulatory system undermines competition and entrenches monopoly at the public's expense.."2are obvious conclusions to be drawn from the so-called "Nader Reports." 3 It is significant, however, that Mr. Nader and Mr. Green have categorically drawn them, for their credibility with some parts of our society may counteract the widespread conviction that faith in economic regulation is the mark of the educated Twentieth Century man.My misgivings are rather with their proposals for reform, which call for significant deregulation but also identify a number of areas where government intervention is said to be appropriate.The difference between this approved regulation and the kind they condemn seems to me essentially cosmetic and based largely on their idiosyncratic preferences, rather than on economic theory.Their reasons for condemning existing regulation, therefore, leave Mr. Nader and Mr. Green in the grasp of creeping capitalism, for their argument, if any deference is to be paid to logic, calls inexorably for a clear-cut affirmation of the free market.Economic regulation has proven to be a noble but futile endeavor.The catalog of fiascos collected by Mr. Nader and Mr. Green demonstrates that proposition, and it is by no means exhaustive.Their dis-
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