 Incremental vs. Comprehensive Reform of Economic Regulation: Predictable Outcomes and Unintended ConsequencesL. R. Jones and Frederick Thompson American Journal of Economics and Sociology, 1984, vol. 43, issue 1, 1-17 Abstract: Abstract. Examination of the theory and politics of reform of government regulatory policy leads to the conclusion that comprehensive reform of economic regulation is desirable and possible, given that we understand how existing regulatory decision‐making processes operate and how reform efforts in the past have failed. Options exist along a dimension of magnitude of change: incremental versus comprehensive reform. Under certain conditions regulatory reform is best achieved through comprehensive change and equilibration to new policy, rather than marginal adjustments to existing policy that often lead to more rather than less government regulation. Comprehensive reform is held to be complete or nearly complete relaxation of government control over price, market entry and other aspects of competition among firms across an entire industry, or assumption by government of new, broad‐scale controls over private lector market behavior. Comprehensive reduction of government control, i.e., deregulation, is in accord with the observation that government decision‐makers sometimes behave as if economic efficiency were an important objective. Date: 1984 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:bla:ajecsc:v:43:y:1984:i:1:p:1-17 Ordering information: This journal article can be ordered from Access Statistics for this article American Journal of Economics and Sociology is currently edited by Laurence S. Moss More articles in American Journal of Economics and Sociology from Wiley Blackwell |
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