Re: bankruptcy questions

[Michael Hoover <hooverm@xxxxxxxxxx>]

>>> jdevine03@xxxxxxxxx 09/22/05 1:22 PM >>>
Doug: > It's a crazy business, which is why it was
regulated in the first place.<

is that why is was regulated? or was there political pressure from the
nascent airline industry? and didn't regulation serve the preexisting
military and postal needs of the government?
Jim Devine
<<<<<>>>>>

program, program, getchur program, can't tell your regulatory theory without a program...

*public interest*
regulation: government response to public demand 
rationale: correct inefficient/inequitable market activities/practices
portrayal: victory of popular democracy over economic elite

*interest group*
regulation: government response to promotion of private interests
rationale: organized interests fill gaps in representation
portrayal: competitive/bargaining process

*capture*
regulation: government response to market failure, public interest, interest group
rationale: over time regulatory agencies become dominated by regulated industries
portrayal: inescapable reality

*economic*
regulation: product whose allocation is governed by forces of supply & demand
rationale: self-interested rational actors
portrayal: serves private interests of politically effective groups

*deregulation*
regulation: government creates counter-productive & self-defeating bureaucratic quagmire 
rationale: regulation ignores virtues of 'free choice' & broad range of possibilities accompanying market economic activities 
portrayal: market forces promote producer/ consumer interests more efficiently than intrusive 'hand' of government 

*monopoly capital* (to whch i'm partial, although i prefer calling it 'creation')
regulation: ratified existence of monopoly 
rationale: worked primarily on behalf of regulated industries
deregulation: unleash concentrated economic power government created
portrayal: straight-line development of ever-greater capital concentration
ir-rationale: pursuit of private profit inconsistent with public good

michael hoover


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