Document Type

Article

Publication Title

Harvard Journal of Law & Public Policy

Abstract

My first task, therefore, is to explain something about the general framework of regulation and then to show my reservations about Rasmusen's approach to these questions. The starting point for all theories of regulation is, in my view, not law but human biology. Given the forces of evolution, we should start with the assumption that all individuals are governed by a substantial dose of self-interest, which, if not properly directed, can result in socially destructive behavior. The trick of sound social design is to harness individual self-interest to sociallyproductive activities.

First Page

61

Volume

21

Publication Date

1997

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