Saturday, July 13, 2013

The Causes and Consequences of Antitrust: The Public-Choice Perspective:Amazon:Books

"The public-choice approach denies the assumption that government employees act in single-minded pursuit of the public interest, defined as allocative [Pareto] optimality. That belief lacks any theoretical or empirical basis. Oddly enough, many who support a shift in regulation from market to government processes because the market fails to provide the "right" incentives simultaneously disregard the possibility that government institutions also fail to provide the "right" incentives."