Deregulation: The Anatomy of a Catchword

Kurt Rothschild

Chapter 8 in Growth, Employment and Inflation, 1999, pp 100-109 from Palgrave Macmillan

Abstract: Abstract The question of the desirability and extent of state intervention in market processes is a recurrent theme almost as old as economic theorizing itself. Starting with the confrontation between the laissez-faire ideology emanating from Manchester and its sceptical opponents in the less developed nations (List in Germany, Carey in the United States), the question resurfaces in the never-ending free trade-protectionism debate, the battle between Chicago/Freiburg liberals and Keynesian interventionists, and so on and so forth. With the wave of conservatism that began in the early 1970s, there has been a noticeable shift in these seesaw discussions in favour of market-oriented policies, with ‘deregulation’ and ‘privatization’ emerging as popular catchwords. My aim is to look a bit more critically at the recent battle-cry for deregulation.

Keywords: Market Process; Allocative Efficiency; Positive Theory; Mixed Economy; Pareto Optimal Outcome (search for similar items in EconPapers)
Date: 1999
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-27393-5_8

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DOI: 10.1007/978-1-349-27393-5_8

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