By: Haleigh & Tanner

  1. Regulatory economics is the economics of regulation, in the sense of the application of law by government for various purposes, such as centrally-planning an economy, remedying market failure, enriching well-connected firms, or benefiting politicians.


The U.S. Food and Drug Administration bans harmful drugs, for example; the Occupational Safety and Health Administration protects workers from hazards they may encounter in their jobs; and the Environmental Protection Agency seeks to control water and air pollution.


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