Marc Law, professor of Economics, delivers a College of Arts & Sciences Full Professor Lecture November 29 at 4 p.m. in Memorial Lounge, Waterman.
His talk "The Role of Government Regulation in a Modern Economy: Lessons from the Past: investigates a central issue in public policy is the role of government as a regulator of economic activity. Scholarship in this area alternates between a naïve view of the state as a solver of market failures and a cynical view of the state as a vehicle for redistributing wealth among special interests. Law's research on the rise of regulation in America suggests a more nuanced perspective. While rent-seeking by organized interests is an important driver of regulation, the evidence also suggests that the state has an important role to play in reducing transaction costs related to information about product quality.
Marc Law is an applied microeconomist with research interests in the fields of regulation, political economy, economic history, and urban economics. His work deals with the nexus between government and the economy and investigates broad questions concerning the causes and consequences of government regulation and political institutions on economic outcomes. He has published widely in the leading journals in the field, including the Journal of Law and Economics; Journal of Law, Economics, and Organization; Journal of Regional Science; and the Journal of Economic History.The College of Arts and Sciences Full Professor Lecture Series was designed to recognize faculty newly promoted to full professor rank.
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