Government Regulation of Individual Market*The General thinking in state (government) regulation is that the markets in which the state determines to become more involved will be better constructed for fairness and with appropriate oversight towards the improvement of economic welfare.***In 1982, George Stigler won the Nobel Peace Prize in Economics. Stigler wrote extensively on government regulation. His findings were that economists could no longer simply take it for granted that the effects of regulation corresponded to the stated intentions of the government.***Explain why governments are involved in regulating individual markets and show the effects of that regulation on those markets. Explain both sides of the issue in that government effects on the market may be positive or negative. (max 600 words)***Lastly, explain why you feel strongly about supporting Stigler?s view or not supporting Stigler?s view regarding government involvement in private markets. (min 200 words)!
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