Author : Christian Uwagwuna
Publisher : GRIN Verlag
ISBN 13 : 364089569X
Total Pages : 13 pages
Book Rating : 4.6/5 (48 download)
Book Synopsis Tighter Grip on the Economy Needed by : Christian Uwagwuna
Download or read book Tighter Grip on the Economy Needed written by Christian Uwagwuna and published by GRIN Verlag. This book was released on 2011-04-18 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Essay from the year 2010 in the subject Economics - Macro-economics, general, grade: 67, De Montfort University Leicester, course: Contemporary Business Issue, language: English, abstract: The purpose of this paper is to consider the rationale of economic regulation, why regulation has welfare benefits and why consumers of financial services, particularly retail consumers demand regulation of the economy. A poll carried out by the BBC showed that most people want their government to have more control over the running of their economy. However, some academic liberals (Bentson, 1998) are skeptical of the benefits of such regulation. These critics of economic regulation argues variously as follows; that there is no market failures and imperfections, and that if they do exist they are not sufficiently serious to warrant regulation, and that regulation may not practically solve these failures and imperfections, and that if it does, it can only do so by imposing cost that might exceed the cost of the original problem, and that imposing regulation raises serious moral hazards, and finally, that regulation imposes a wide range of cost which is ultimately borne by consumers.