Regulating quack medicine

Leeson, Peter T.; King, Mike; Fegley, Tate

doi:10.1007/s11127-019-00656-w

Cited by 12 publications

(12 citation statements)

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“…1 , the existence of a bribe establishes so the awareness and intent of the recipient (over and above that of the giver), demonstrating a case of statutory or agency capture based on an illegal and condemnable practice. This is finally a “classic case of passive predation” described by Leeson et al ( 2020 ), where public actors serve deliberately and selfishly private interests through the formulation or application of regulation (see below). 15…”

Section: A Framework For Analyzing Capturementioning

confidence: 99%

“…2 On the contrary, as suggested by theories of regulatory capture, economic actors may influence the state to put in place regulations that limit competition in markets and ultimately harm public welfare, as asserted by Stigler ( 1971 ). Finally, as proposed by Leeson et al ( 2020 ), these theoretical approaches may be combined through “passive predation”, to be distinguished from “active predation”. The latter refers to a state that seeks to “suppress political competitors or expropriate citizens' property”, using coercive means if necessary, while the former refers to “the state serving as a vehicle for the designs of private parties on each other” and “suppressing their competitors in the market or diverting the incomes of fellow citizens to their benefit” by means of regulation (p. 274).…”

Section: Introductionmentioning

confidence: 99%

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Capture and passive predation in times of COVID-19 pandemic

Guennif

2022

Public Choice

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In the midst of a health crisis, a drug in development and candidate for COVID-19 contagious disease was granted orphan-drug designation (ODD). This decision by the US Food and Drug Administration was immediately denounced as an abuse of the Orphan Drug Act (ODA). This paper outlines how this decision may be considered as the result of a complex case of capture along the regulatory process. Therefore, a case study of the remdesivir episode is conducted, combining the definition of a framework for the analysis of capture and the identification of stylized facts marking the trajectory of a repositioned drug and candidate for COVID-19. In doing so, arguments are put forward to show to what extent this granting of ODD can be described as the result of a series of captures, a case of weak capture however that calls for an amendment of the ODA to preclude drugs for contagious and communicable epidemic diseases from obtaining orphan status in the first place.

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Section: A Framework For Analyzing Capturementioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Capture and passive predation in times of COVID-19 pandemic

Guennif

2022

Public Choice

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“…By a predatory state, we mean a state that "would specify a set of property rights that maximized the revenue of the group in power, regardless of its impact on the wealth of the society as a whole" (North 1981, p. 22). It would promote the private interests of dominant groups inside the state (such as politicians, the army and bureaucrats) or influential private groups with effective lobbying powers (Leeson et al 2019;Vahabi et al 2019).…”

mentioning

confidence: 99%

“…Vahabi, Batifoulier and Da Silva also refer to the American experience of fraternal social welfare organizations predating the New Deal and the rise of the welfare state there, and ask whether the state re-appropriation effect was at work in other parts of the world. Leeson et al (2019) also treat all types of state, including a liberal democratic one, as predatory. However, they suggest a distinction between a 'passive' and an 'active' predatory state.…”

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confidence: 99%

Introduction: a symposium on the predatory state

Vahabi

2019

Public Choice

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Economists have adopted two broad perspectives on the state: contractual (i.e., provider of public goods and services) and predatory (coercive and extractive). By a predatory state, we mean a state that promotes the private interests of dominant groups within the state (such as politicians, the army and bureaucrats) or influential private groups with strong lobbying powers. Neo-institutional economists support an extended version of the contractual perspective in which the state is not simply a 'benevolent dictator' but may itself be composed of predators. However, it considers predation as only a means to promote protection. By contrast, a predatory vision of the state argues that while protection and predation are two faces of the same coin, a predatory state protects only to promote its predation on the private sector. This symposium explores how a predatory approach to the state can shed light on all types of state, from liberal democratic to authoritarian and failed ones, both in the past and present.

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“… 4 Recent contributions in this vein include Fuller (2019), Leeson et al (2019), and Rouanet and Piano (2019). Allen (2018) discusses the methodology of the Barzelian approach to institutions.…”

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confidence: 99%

The Art and Science of Economic Explanation: Introduction to the Special Issue in Honor of Yoram Barzel

Candela

Piano²

2019

Journal of Institutional Economics

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This introduction to the special issue in honor of Professor Yoram Barzel provides an overview of his scholarship and a summary of the contributions to this special issue. Each contribution advances or elaborates upon major themes in Barzel's theoretical and applied work on property rights, transaction costs, and political economy. The contributions fall into three categories: an examination of the foundations and implications of the ‘Barzelian’ method for social scientific analysis; Barzel's economics of property rights and transaction costs to historical case studies; and advances to Barzel's theory of the state, which includes an analysis of the origins of democracy and the rule of law.

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Regulating quack medicine

Cited by 12 publications

References 14 publications

Capture and passive predation in times of COVID-19 pandemic

Capture and passive predation in times of COVID-19 pandemic

Introduction: a symposium on the predatory state

The Art and Science of Economic Explanation: Introduction to the Special Issue in Honor of Yoram Barzel

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