Got a tricky question? Receive an answer from students like you! Try us!

Economic Theory of Regulation - Essay Example

Only on StudentShare
College
Essay
Miscellaneous
Pages 8 (2008 words)

Summary

George Joseph Stigler is one of the many young economists of the early 1900's who gave birth to the recognition that human economy relies on the understanding and balance that several elements in the community standing as links between all systems that form the existence of worldwide economy exists to establish a stronger sense in the human understanding of monetary and services or products exchange…

Extract of sample
Economic Theory of Regulation


The most known work of Stigler that affects many individuals and groups at present is that of the economic theory of regulation. This theoretical understanding of the major thoughts that has been created to help the society see through the situations mandated as part of the development of the human community creates a knowledgeable knowing on the part of the people's realization as to how they are playing an important role in the society.
The economic theory of regulation basically shows how much people are affected by economy. The systems of the society and the rules that are established around the people living in it has long been derived from the many considerable thoughts of the ongoing relationship between social elements as per established through economic connections and demands. The relationship between every person and the groups that creates the entire society is shaped by needs and demands that each needs from the other. Through these demands, the creation of products and services are given way as per mandated through the different provisions allowed by the established legal regulations to exist. ...
Download paper
Not exactly what you need?

Related Essays

Economic theory
This particular variable takes the value of one if the year being considered is 1983 and zero, otherwise. Moreover, annual data for Belgian aggregates for forty years, which is from 1955 to 1994, was used in the study.…
8 pages (2008 words)
Social And Economic Justice Theory
The thesis gains importance because present day Governments and Judicial systems should adopt the best available social and economic justice theory in their efforts to ensure fairness in justice delivery. Justice in this context does not confine to justice delivered in courts alone but also concerns the justice a common man is entitled in his day to day life. Courts are concerned with rule of law alone. The courts are expected to delver judgments tempered with economic and social justice to iron out differences due to unjust inequalities among people. If a law is unfair, courts are sometimes…
12 pages (3012 words)