Agribusiness and policy failures. Issue 1 (3rd November 2021) - Richards, Timothy J.
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.