BEGINNER

Regulation

MARCH 26, 2013

Government  employ regulations to exert control over businesses in an industry. Some regulations include price controls, quality guidelines, education requirements for employees, etc. Supporters claim that regulations protect consumers, but regulations often act as barriers of entry and are often the result of companies in a given industry attempting to limit competition by the creation and enforcement of standards that raise costs, but do not necessarily raise quality. 

Steve Horwitz - Regulation and Intervention

 

Mark Hendrickson - The Truth about Monopolies and Anti-Trust Laws

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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