Agribusiness and policy failures. Issue 1 (3rd November 2021)

• Record Type: Journal Article
• Authors: Richards, Timothy J.
• Other Names: Mueller Valerie guestEditor.; Offutt Susan guestEditor.; Chen Joyce guestEditor.; Grogan Kelly guestEditor.
• Is Part Of: Applied economic perspectives and policy. Volume 44:Issue 1(2022)
• Page Start: 350
• Page End: 363
• Publication Date: 2021-11-03
• Subjects: agricultural policy -- antitrust -- farm labor -- price‐gouging; Agriculture -- Economic aspects -- Periodicals; Agriculture and state -- Periodicals; 338.105
• DOI: 10.1002/aepp.13205
• Languages: English
• ISSNs: 2040-5790

Abstract

Abstract: There is often a clear need for business regulation, as the market fails in many ways that are well understood. However, there are also important examples of policy failure, or cases where policy intervention seemed like a good idea at one time, but likely caused more problems than it solved. I consider three examples of failed regulatory interventions, in labor, antitrust, and disaster response. In reviewing the literature on each topic, some of which is our own, I hope to draw general conclusions regarding the value of careful economic analysis in policy design, particularly in the regulation of agribusiness enterprises.