In Bootleggers & Baptists: How Economic Forces and Moral Persuasion Interact to Shape Regulatory Politics, economists Bruce Yandle and Adam Smith explain how money and morality are often combined in politics to produce arbitrary regulations benefiting cronies, while constraining productive economic activities by the general public.
Restricting development rights in order to protect water
supplies increases a community’s property values but decreases the
value of downzoned properties.
Carolyn A. Dehring and Craig A. Depken IIPDF