Definitions
| Antitrust: Laws designed to make markets more competitive, or more accurately, laws designed to improve the efficiency of resource allocation. |
| Economic Regulation: The direct regulation of specific industries such as telecommunications, electricity, natural gas, cable TV, trucking, airlines, railroads, and water transportation. |
| Social Regulation: Laws/regulations designed to mitigate the harmful social consequences of private production and exchange--e.g., air pollution, contaminated hamburgers, dangerous work environments, job discrimination, tampering with odometers, airline safety, . . . |
