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The past thirty years have witnessed a transformation of government economic intervention in broad segments of industry throughout the world. Many industries historically subject to economic price and entry controls have been largely deregulated, including natural gas, trucking, airlines, and commercial banking. However, recent concerns about market power in restructured electricity markets, airline industry instability amid chronic financial stress, and the challenges created by the repeal of the Glass-Steagall Act, which allowed commercial banks to participate in investment banking, have led to calls for renewed market intervention. Economic Regulation and Its Reform collects research by a group of distinguished scholars who explore these and other issues surrounding government economic intervention. Determining the consequences of such intervention requires a careful assessment of the costs and benefits of imperfect regulation. Moreover, government interventions may take a variety of forms, from relatively nonintrusive performance-based regulations to more aggressive antitrust and competition policies and barriers to entry. This volume introduces the key issues surrounding economic regulation, provides an assessment of the economic effects of regulatory reforms over the past three decades, and examines how these insights bear on some of today’s most significant concerns in regulatory policy.
Questions concerning safety in aviation attract a great deal of attention, due to the growth in this industry and the number of fatal accidents in recent years. The aerospace industry has always been deeply concerned with the permanent prevention of accidents and the conscientious safeguarding of all imaginable critical factors surrounding the organization of processes in aeronautical technology. However, the developments in aircraft technology and control systems require further improvements to meet future safety demands. This book embodies the proceedings of the 1997 International Aviation Safety Conference, and contains 60 talks by internationally recognized experts on various aspects of aviation safety. Subjects covered include: Human interfaces and man-machine interactions; Flight safety engineering and operational control systems; Aircraft development and integrated safety designs; Safety strategies relating to risk insurance and economics; Corporate aspects and safety management factors --- including airlines services and airport security environment.