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Gresham'S Law: The Regulatory Analogy

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  • C. K. Rowland
  • Roger Marz

Abstract

The authors argue that delegation of discretion over environmental regulation to the states may trigger a process analogous to Gresham's Law in which lax regulation in one state drives out stringent regulation in neighboring states. This devolution to regulatory laxity is illustrated by the lax pesticide regulations in five Midwestern “agricultural” states. Questions are raised about the effects of the Reagan Administration's commitment to reduce the stringency of federal environmental regulations and delegate more regulatory discretion to the states.

Suggested Citation

  • C. K. Rowland & Roger Marz, 1982. "Gresham'S Law: The Regulatory Analogy," Review of Policy Research, Policy Studies Organization, vol. 1(3), pages 572-580, February.
    • Handle: RePEc:bla:revpol:v:1:y:1982:i:3:p:572-580
    DOI: 10.1111/j.1541-1338.1982.tb00463.x
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    Cited by:

    1. Chan, May & Kemp, Simon & Finsterwalder, Jörg, 2016. "The concept of near money in loyalty programmes," Journal of Retailing and Consumer Services, Elsevier, vol. 31(C), pages 246-255.
    2. Abdulrahman B. AlQassar & Habib Ahmed, 2022. "Regulatory regimes for Sharīʿah governance: A framework of assessment and analysis," Journal of Banking Regulation, Palgrave Macmillan, vol. 23(2), pages 139-154, June.

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