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NCJ Number: 126881 Find in a Library
Title: Deregulation, Reregulation, and the Myth of the Market
Journal: Washington and Lee Law Review  Volume:45  Issue:4  Dated:(Fall 1988)  Pages:1249-1274
Author(s): E L Rubin
Date Published: 1988
Page Count: 26
Type: Research (Theoretical)
Format: Article
Language: English
Country: United States of America
Annotation: This discussion of economic analyses of regulations uses the financial services industry as an example and argues that terms such as "deregulation" and "reregulation" imply a particular view of social organization, human behavior, and politics that is useful in some respects, but lacking in empirical support.
Abstract: Concepts relating to regulation rest on an image of a free market that does not reflect reality. However, this imagery is useful in that it generates a social system that allows us to achieve economic or material efficiency, an appealing goal in a commercial area such as financial services. This imagery also allows us to use economics as a comprehensive methodology for solving social problems. Nevertheless, efficiency is only one of many social goals and is not necessarily the only valid one. Finally, economics can be useful in examining other social policies, although it cannot occupy the central role that it does in analyses of efficiency. 73 footnotes
Main Term(s): Federal regulations
Index Term(s): Economic models; Financial institutions; Regulatory agencies
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