The economics of regulation: Principles and institutions Alfred E. Kahn Cambridge,MA: MIT Press, 1988, Vol. I, 199 pp., Vol. II, 360 pp.

Conclusion Although Kahn's theorizing may be criticized in various ways, there is no doubt that he succeeds in arriving at the correct conclusion. Significant social benefits were to be attained through increasing competition, i.e., through deregulation, in all of the industries that are considered in his analysis. As chairman of the Civil Aeronautics Board, Kahn courageously and effectively acted to bring about the benefits from deregulation that he predicted would be forthcoming, for which this nation, if not the world, should be grateful.In this book, Kahn argues persuasively for increasing thecompetitive component in regulated industries in order to achieve greater economic efficiency. The message of the book endures, as is befitting the book's stature as a classic.The author expresses his appreciation to the Book Review Editor of this journal, the two anonymous referees, Janice A. Sears, Khy and Anne Alexis Daniel, and Tonya Katsoulis for their tolerance, encouragement, and suggestions. The author alone is responsible for any errors.