The Conservative Case for Regulation
The Conservative Case for Regulation
Contrary to common misperceptions, conservatives and libertarians believe that markets need some rules. Drawing on the work of Milton Friedman, Friedrich Hayek, Richard Epstein, and others from the “Chicago School” and “Austrian School” of economics, this chapter shows that most conservatives and libertarians agree markets at the very least need rules against breaching contracts, fraud, and horizontal price fixing. Many if not most class action lawsuits fall into these categories.
Keywords: conservative, libertarian, Milton Friedman, Friedrich Hayek, Richard Epstein, Chicago School, Austrian School, breach of contract, fraud, price fixing
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