"A superb, thought-provoking and penetrating book, analyzing the real, as opposed to the presumed, effects of government regulation. It effectively turns the orthodox view that government regulation 'corrects' private 'market failures' on its head. The book deserves to be read by all serious students of public policy." --Sam Peltzman, professor of economics and financial services, University of Chicago "A lively book that very effectively analyzes the very real phenomena of government failure. The authors make a significant contribution by dealing informatively with the side of the matter that welfare economics tends to neglect and make a vigorous case for the view that government intervention in the workings of the market should never be taken lightly." --William J. Baumol, director, C. V.

Starr Center for Applied Economics, New York University "A major contribution to informed comment. The book is so well written and the subject is so important and exciting that a great many people will find it very entertaining even if they do learn while reading it. We can welcome the book as a major step forward in understanding the dynamics of government and markets, and how both affect us all." --Gordon Tullock, professor of law and economics and distinguished research fellow, George Mason University.