By George J. Stigler
Citizen and the kingdom: Essays on Regulation
Author. George J. Stigler
Read or Download Citizen and the State: Essays on Regulation PDF
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Extra resources for Citizen and the State: Essays on Regulation
O The evitlence, you will hardly need be reminded, consisted of a few quotations from books on municipal trading. Pigou's views of the competence of the state were, like his predàessors' views, a tolerably random selection of the im- mediately previous views, warmed by hope.
The obligation of building party walls, in order to prcvent the communicaüon of fire, is a violation of natural liber§, exactly of the same kind with the tegulations of the banking trade which are here proposed. (The Weolth o/iYctrbzs [Modern Library editionl, p. ' He is quite willing to outlarÿ payment of wages il kind, which he believes will defraud the worker, and to put a limit on interest rates, because high interest rates encourage lende$ to entrust their funds to improvi- The Economist and the State 41 dent proj€ctors, and to have a complicated tsx system to charge the uses of land.
The rrmoval of barriers to the employment of unskilled young workes at low wages while they are acquiring ftaining on the job. These bamiers iaclude minimum wage rates and apprenticeship restrictions. These lattet pmposals will not please some people: a fine thing, they will say, to raise the economic status of the nonwhite youth by lowering his wage rate to a dollar an hour. A fine thing hdeed, I reply, to raise it from zem to a dollar. The reduction of accidents and tlte elevatioa of tlle economic status ofthe nonwhite are admirable goals, we shall all agree.