Economics of Government Regulation

The Economics of Government Regulation: Theory and Canadian Practice (Second Edition) is a concise presentation of the economic principles, theories, issues, and policies of government regulation. The text includes extensive analysis of the applications of regulation in Canada. This edition brings the analysis up to date. Part One applies the basic elements of microeconomics to the theory of government regulation, examines the impact of regulation on the economy with emphasis on the costs of regulation, and describes the trend of regulatory reform and deregulation. Part Two consists of detailed case studies of the Canadian experience with government regulation and deregulation. The cases cover a mix of regulated areas and illustrate a variety of features of regulation. The areas selected include: airlines and telephones, two monopolistic industries traditionally subjected to regulation but which have experienced deregulation; broadcast and paycable television, a regulated industry in the sensitive area of Canadian culture; financial institutions, a competitive industry that raises problems because of its diversity; and pollution, an area of social regulation that has international relevance. Other applications include agriculture, rental housing, patented medicines and wage-price controls. This book is specifically written for university-level courses on government regulation. It does not, however, require extensive training in economic theory and would be suitable for students in related disciplines such as business administration and law.