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- W2178347297 abstract "THERE is an uneasy coexistence between federal antitrust laws and state regulatory regimes. Regulation displaces competition. Displacement is the purpose, indeed the definition, of regulation. Limitations on the number of taxicabs, licensing of barbers and dentists, health and safety codes, zoning laws, and price supports for milk depend on a belief that competitive markets should be replaced with something else. Sometimes legislation may be justified as necessary to correct imperfections in markets, but in most cases legislation is designed to defeat the market altogether. Although state and local legislatures may say that their schemes are better than the markets they replace, many scholars believe, and much evidence shows, that regulatory laws owe more to interest group politics than to legislators' concern for the welfare of society at large.' The state and local laws reduce allocative efficiency and" @default.
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- W2178347297 date "1986-01-01" @default.
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- W2178347297 title "Antitrust and the Economics of Federalism" @default.
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