State Regulation On Uber And Cab Drivers Essay

1322 WordsJan 21, 20166 Pages
Introduction The history of regulation could be traced back to the ancient civilizations such as standardized weights and measures in ancient Rome, paper currency system in China, and others including Egyptian, Indian and Greek ("Plagiarism," Wikipedia: The Free Encyclopedia). In the modern society, governments choose to intervene to correct market failure, to achieve an equitable distribution of income and wealth and to improve the performance of economy (Geoff, 2006), such as the debate on state regulation on Uber and cab drivers in WNPR News recently in the United State. In the meanwhile, one of the key economic questions, what variables contribute the difference in levels of growth of GDP among countries, has a continuing discussion among economists in their papers. Is there any casual relationship between regulation and growth of GDP? Hall and Jones (1999) showed in their papers that the performance of regulation acts a vital role of growth of GDP and found that richer countries today had better political and economic institutions in the past. Based on previous finding in this topic, exploring how differently growth of GDP performances with the variability of regulation is beneficial to find out expected performance of government in regulation in economics in the purpose of promoting better growth of economic. Thus, this paper will focus on exploring how to evaluate the effect of government regulation in economic area in terms of Gross Domestic Product growth. The
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