Abstract

http://ssrn.com/abstract=1708180
 


 



The Brewer, the Baker, and the Monopoly Maker


Diana Weinert Thomas


Creighton University

Peter T. Leeson


George Mason University - Department of Economics

November 12, 2010

Journal of Entrepreneurship and Public Policy, Forthcoming

Abstract:     
This paper examines how productive entrepreneurial activities, such as innovation, influence unproductive entrepreneurial activities, such as regulatory rent seeking. We argue that the former may increase the latter. Confronted with a situation in which innovation erodes their monopoly returns, legally protected producers and policymakers reregulate industry to recapture lost rents. Regulation policy under such reregulation tends to be more encompassing, and thus produces more unproductive entrepreneurial activity, than preinnovation regulation policy. This reflects the greater number or variety of producers that new regulation policy must encompass for reregulation to recreate rents. To investigate our argument we consider Bavaria’s brewing industry in the 14th through 16th centuries.

Accepted Paper Series





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Date posted: November 14, 2010 ; Last revised: July 20, 2011

Suggested Citation

Thomas, Diana Weinert and Leeson, Peter T., The Brewer, the Baker, and the Monopoly Maker (November 12, 2010). Journal of Entrepreneurship and Public Policy, Forthcoming. Available at SSRN: http://ssrn.com/abstract=1708180

Contact Information

Diana Weinert Thomas
Creighton University ( email )
2500 California Plaza
Omaha, NE 68178
United States
Peter T. Leeson (Contact Author)
George Mason University - Department of Economics ( email )
4400 University Drive
Fairfax, VA 22030
United States
HOME PAGE: http://www.peterleeson.com
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