From the perspective of Chicago school economists, regulation initially will be found where there are market imperfections and over time will evolve to serve the interests of the regulated industry.

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From the perspective of Chicago school economists, regulation is seen as an impediment to market efficiency and should be minimized. They believe that markets, if left alone, will correct themselves and eliminate any imperfections. They also do not believe that regulations serve the interests of the regulated industry, but rather create barriers to entry and limit competition.

From the Perspective of Chicago School Economists, Regulation Initially Will