Understanding Regulation: Theory, Strategy, and Practice by Robert Baldwin, Martin Cave, Martin Lodge

By Robert Baldwin, Martin Cave, Martin Lodge

Legislation is a key situation of industries, shoppers, electorate, and governments alike. development at the luck of the 1st version, realizing legislation, moment variation offers the reader with an creation to key debates and discussions within the box of law from a few disciplinary views, taking a look in the direction of legislation, economics, enterprise, political technological know-how, sociology, and social management.

The ebook has been largely revised and up to date take into consideration the numerous advancements and occasions of the earlier decade. Containing a number of new chapters, it's been thoroughly restructured into seven components, overlaying: the elemental concerns concerning law; varieties of regulatory techniques; ideas and enforcement; caliber and evaluate; law at diverse degrees of presidency; community matters; and concluding thoughts.

Drawing on cross-sectoral and cross-national examples, this booklet studies the principal questions of law, and displays upon these contentious matters that have an effect on the layout and operation of regulatory associations. among different themes, it discusses "better regulation," enforcement, self-regulation, probability law, cost-benefit research, and extra software regulation-oriented themes, comparable to price-setting. it is going to be a vital source for lecturers, researchers, and graduates around the social sciences learning law.

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Extra info for Understanding Regulation: Theory, Strategy, and Practice

Example text

Whether cost-benefit testing of regulation has a role on this front is discussed in Chapter 15. To summarize: regulatory regimes and actions can be assessed by making judgements about the merits of legitimating claims under the five headings set out. To assess in this manner is not to evaluate the moral correctness or legality of the regulatory action or regime, but to make a judgement as to its worthiness of public support. In making that judgement, personal visions have to be tempered by considering the responses of other parties.

Certain arguments have force in debating whether this or that 5 For a statement of non-economic substantive goals that would justify regulation according to a ‘civic republican’ viewpoint see C. Sunstein, After the Rights Revolution: Reconceiving the Regulatory State (Cambridge MA, 1990). 6 On economists’ contributions see R. Cooter and T. Ulen, Law and Economics (Glenview, IL, 1988), ch. 1 and see Chapter 15, below, on the cost-benefit testing of regulation. E. Baker, ‘The Ideology of the Economic Analysis of Law’ (1975) 5 Philosophy and Public Affairs 3; G.

This will usually be due to divergent weightings of the various criteria. Professional economists may, for instance, stress the pursuit of efficiency, citizens and politicians may emphasize the importance of furthering accountability, transparency, and other process values, and certain firms may place special value on such matters as international competitiveness or potential for growth. A second challenge is independent of issues about chosen benchmarks and can be summarized in the question: Which aspect of regulation is to be measured?

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