Book Reviews

• Published date: 01 June 1976
• Author: Peter Asch
• Date: 01 June 1976
• DOI: 10.1177/0003603X7602100211
• Subject Matter: Book Reviews

BOOK

REVIEWS

449

Clair Wilcox and William G. Shepherd, Public Policies

Toward Business, Homewood, lllinois: Richard D. Irwin,

Inc.

(Fifth

Edition, 1975) 766 pp.

William G. Shepherd, Public Policies Toward Business:

Readings and Cases, Homewood, illinois: Richard D.

Irwin, Inc.

(Paper,

1975), 342 pp.

Several generations of college students in "government

and

business" courses have been

reared

on Public Policies

Toward Business by the late Clair Wilcox. The present vol-

ume, with William G. Shepherd as co-author, is the fifth

edition of this text.

It

is good to

report

that

the

latest

ver-

sion largely retains the virtues of Wilcox' earlier efforts while

adding some attractive innovations.

This is a large book covering an enormous

area

;virtually

the whole range of

major

government policies

that

impinge

directly on business behavior and

structure.'

Following an

introductory discussion

are

extended sections on policies to

promote competition (largely

antitrust),

the financial sector,

public regulation, public enterprise, and some special cases

(e.g., resource conservation and health care)

that

do not con-

form closely to

any

of the previous categories.

Each

section

contains aseries of chapters dealing with specific facets of

the area.

The approach to each aspect of policy is clear

and

quite

consistent. The

primary

issues

are

defined and some history

of policy development presented. The

nature

of a rational

economic approach to the issues is described, usually in a

. way

that

is not highly technical (the use of equations is mini-

mal and even diagrams, while appearing more frequently,

are

not heavily stressed). Within each chapter, the main dis-

cussion tends to focus on the actual mechanics and substance

of

current

policy,

and

on suggestions

for

change.

1This excludes such significant but indirect influences as mone-

tary

and

fiscal policies.