Theories of Regulation and the History of Consumerism
Abstract
The “economic” (Chicago School) theory of regulation fails to explain many important features of regulatory history in the USA, such as the periodicity of regulatory innovation, the role of the organized consumer movement, and the roots of reform, including deregulation. J.Q. Wilson′s political theory of regulation accounts for these phenomena when interpreted in historical context. The widely‐held social values of Wilson′s theory are identified with the values articulated by the consumer movement. This theory suggests that regulation can indeed serve the public interest as understood from the perspective of consumerist values.
Keywords
Citation
Tiemstra, J.P. (1992), "Theories of Regulation and the History of Consumerism", International Journal of Social Economics, Vol. 19 No. 6, pp. 3-27. https://doi.org/10.1108/03068299210012548
Publisher
:MCB UP Ltd
Copyright © 1992, MCB UP Limited