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Roger Sherman grounds modern examples in historical context and develops thought-provoking discussions to motivate students from many different majors. \u003cbr\u003e\u003cbr\u003eThe structure of the text can easily be adapted for use in a variety of courses. Three main sections—antitrust, industry regulation, and social regulation—present the basic theories. The industry regulation chapters (Part II) are self-contained for flexibility, covering specific industries such as communications, postal service, and energy.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e“Roger is one of those scholars who is a true credit to the academic world. Not only is he a fine researcher but he has been a great positive influence on graduate students and colleagues over the years. 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This book presents economic welfare foundations for the purpose of evaluating how well, from a social point of view, an enterprise performs when competition is unable to function. Problems with existing institutions are emphasized. Topics treated include welfare measures and their uses in peak-load pricing, second-best pricing, and income distribution. Professor Sherman covers public choice difficulties of government intervention, and describes problems with incentives in statutory monopolies and efforts to overcome them through the study of principal-agent relationships. 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