Recent Legislation Reveals President Trump’s Regulatory Approach

Recent Legislation Reveals President Trump’s Regulatory Approach

Efficient government policymaking recognizes when it is, and when it is not, socially desirable to intervene in markets. Thus, efficient policymakers would choose not to regulate non-government entities if market forces can produce a more efficient outcome than a prior government intervention. For example, when deregulating the airline industry in 1978, policymakers benefited air travelers by giving airlines the freedom to set fares and to enter…