|
so:text
|
Regulation may be actively sought by an industry, or it may be thrust upon it. A central thesis of this paper is that, as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit. There are regulations whose net effects upon the regulated industry are undeniably onerous; a simple example is the differentially heavy taxation of the industry's product . These onerous regulations, however, are exceptional and can be explained by the same theory that explains beneficial regulation. (en) |
