Regulation

Types and Applications of Regulation

• Biology: Gene regulation and metabolic regulation aid organisms in adapting to their environment.
• Government: Delegated legislation by subject-matter experts enforces primary legislation.
• Business: Industry self-regulation through organizations and associations establishes rules.
• Psychology: Self-regulation theory examines how individuals achieve their goals.
• Efficiency: Debate on ex-ante regulation vs. ex-post liability for harm.

Social Regulation

• Legal restrictions and contractual obligations are common forms.
• State-mandated regulation intervenes in private markets for policy implementation.
• Examples include environmental limits, child labor laws, and food safety regulations.
• Analysis of the economics of imposing or removing regulations.
• Effective regulation requires the power to enforce regulatory decisions.

Regulation History

• Ancient civilizations had regulations for businesses and currency systems.
• Modern industrial regulation dates back to the Railway Regulation Act 1844.
• Regulatory agencies in the US enforce laws under statutory authority.
• Concerns about regulatory capture in the 1960s led to the creation of new agencies.
• Agencies’ behavior is influenced by leadership, staff, and organic law.

Measurement and Evaluation of Regulation

• Global Indicators of Regulatory Governance score countries on transparency.
• The V-Dem Democracy indices feature a regulatory quality indicator.
• The QuantGov project tracks regulations by topic in the US, Canada, and Australia.
• Various studies and projects analyze ex-ante vs. ex-post regulation approaches.
• Monitoring and regulatory impact assessments are crucial for assessing regulation efficiency.

Additional Resources

• Wikiquote and Wiktionary offer related quotations and definitions for further exploration.

Regulation Data Sources