Regulation and the Natural Progress of Opulence

7 Pages Posted: 8 Jun 2010

See all articles by Sam Peltzman

Sam Peltzman

University of Chicago, Booth School of Business; National Bureau of Economic Research (NBER)

Abstract

Adam Smith taught us how government regulation can counteract the market forces that produce economic growth. Here I explore a more complex interplay between regulation and economic growth. Regulation creates behavioural incentives that weaken or offset entirely the goal of the regulation. Growth produces many of the benefits ascribed to regulation while also hiding the costs and failures of regulation.

Suggested Citation

Peltzman, Sam, Regulation and the Natural Progress of Opulence. Economic Affairs, Vol. 30, Issue 2, pp. 33-39, June 2010. Available at SSRN: https://ssrn.com/abstract=1621983 or http://dx.doi.org/10.1111/j.1468-0270.2010.02006.x

Sam Peltzman (Contact Author)

University of Chicago, Booth School of Business ( email )

5807 S. Woodlawn Avenue
Chicago, IL 60637
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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