The Elgar Companion to Public Choice, Second Edition
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The Elgar Companion to Public Choice, Second Edition

Edited by William F. Shughart II, Laura Razzolini and Michael Reksulak

The Companion lays out a comprehensive history of the field and, in five additional parts, it explores public choice contributions to the study of the origins of the state, the organization of political activity, the analysis of decision-making in non-market institutions, the examination of tribal governance and to modeling and predicting the behavior of international organizations and transnational terrorism.
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Chapter 17: Regulatory policy

Amihai Glazer


Various individuals or groups can benefit from regulation: bureaucrats who seek more power or influence, legislators who can extort rents from regulated firms by threatening even more stringent regulations, regulated firms that want to deter the entry of potential rivals, labor unions that want to require all firms to provide the same working conditions to their members, employees who want to increase demand for the skills required by regulations, or owners of capital who want to increase demand for the types of capital used intensively in complying with regulatory requirements. With such a richness of possible beneficiaries, one might explain any given regulation, perhaps incorrectly, by identifying ex post some group that benefits from it.

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