Consideration in the Theory of Economic Regulation

Abstract

The search for a thesis topic is usually formadable. Being equiped only with a general knowledge of the mech­ anics of economic thought, it is often difficult to find a particular subject to study. My experience vtas no ex­ ception, it "vas a horrible struggle. After weeks of search­ ing and pondering, I was inspired to do something on economic regulation by a report submitted by the Office of the Legislative Auditor on the State's Public Utility Program. The audit argued convincingly for the deregulation of Hawaii's motor carrier industry, but was still largely ineffective in causing such a change. This paper, then, is my attempt to resolve these events v'iithin the concep- tual framework of the theory of economic regulation.