Part One applies the basic elements of microeconomics to the theory of government regulation, examines the impact of regulation on the economy with emphasis on the costs of regulation, and describes the trend of regulatory reform and deregulation.
Part Two consists of detailed case studies of airlines and telephones, broadcast and cable television, financial institutions, and pollution. Other applications include agriculture, rental housing, patented medicines, and wage-price controls.
The book is specifically written for university-level courses on government regulation. It does not, however, require extensive training in economic theory and would be suitable for students in related disciplines, such as business administration and law.