Question: Compare the public interest theory of regulation a…
Question: Compare the public interest theory of regulation and the economic theory of regulation as they relate to legislative decision-making. (a) Under the public interest theory, what two main goals do legislators focus on when deciding whether a policy is “worth it”? (b) Under the economic theory of regulation, how do legislators conceptualize the “benefits” and “costs” of supporting a policy? (c) Using one or two sentences for each, explain how a legislator’s decision to support a new healthcare regulation would differ under: (i) Public interest theory (ii) Economic theory of regulation