The viewpoint that government regulations are instituted to help the public is called the ____.

Question

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The public interest model proposes that government regulations are instituted to serve the best interests of the public as a whole. This viewpoint assumes that regulators act impartially and prioritize societal welfare over the interests of any particular group or industry. This stands in contrast to the economic theory of regulation, which suggests that regulations are enacted to benefit certain industries or special interests. Public choice theory, on the other hand, holds that regulations are the result of the interplay between regulators, interest groups, and politicians, each of whom seeks to advance their own self-interest. The life cycle theory, finally, maintains that regulations are influenced by where an industry is in its life cycle, with regulation increasing as an industry matures.

The Viewpoint That Government Regulations Are Instituted to Help the Public