Economic Regulation vs Social Regulation

1. Explain the following.

a. Commercial consideration vs scientific judgement in approving drugs by FDA

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b. Public-interest Theory vs Private-interest Theory of regulation

c. Regular monopoly vs. natural monopoly

d. Economic Regulation vs Social Regulation

 

2.

a. What are the features Glass-Steagall Banking Act.

b. Which parts were repealed subsequently?

c. How did that lead to 2008 Financial Crisis?

 

3.

a. What are the criticisms of regulation?

b. Explain deregulation.

c. Explain the impact of deregulation.

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