Regulation

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For other uses, see Regulation (disambiguation).
Regulation is the management of complex
systems according to a set of rules and trends.
In systems theory, these types of rules exist in various
fields of biology and society, but the term has slightly
different meanings according to context. For example:
 in biology, gene
regulation and metabolic
regulation allow living organisms to
adapt to their environment and
maintain homeostasis;
 in government, typically regulation
means stipulations of the delegated
legislation which is drafted
by subject-matter experts[ ]
 to
citation needed

enforce primary legislation;

 in business, industry self-
regulation occurs through self-
regulatory organizations and trade
associations which allow industries to
set and enforce rules with less
government involvement; and,
  in psychology, self-regulation
theory is the study of how individuals
regulate their thoughts and behaviors
to reach goals.

Contents

 1Social
o 1.1Reasons
o 1.2History
 2See also
 3References
 4External links
o 4.1Wikibooks

Social[edit]
Regulation in the social, political, psychological, and
economic domains can take many
forms: legal restrictions promulgated by
a government authority, contractual obligations (for
example, contracts between insurers and their
insureds ), self-regulation in psychology, social
[1]

regulation (e.g. norms), co-regulation, third-party

regulation, certification, accreditation or market
regulation. [2]

State-mandated regulation is government intervention

in the private market in an attempt to
implement policy and produce outcomes which might
not otherwise occur,  ranging from consumer protection
[3]

to faster growth or technological advancement.

The regulations may prescribe or proscribe conduct
("command-and-control" regulation), calibrate
incentives ("incentive" regulation), or change
preferences ("preferences shaping" regulation).
Common examples of regulation include controls on
market entries, prices, wages, development
approvals, pollution effects, employment for certain
people in certain industries, standards of production for
certain goods, the military forces and services.
The economics of imposing or removing regulations
relating to markets is analysed in regulatory economics.
Power to regulate should include the power to enforce
regulatory decisions. Monitoring is an important tool
used by national regulatory authorities in carrying out
the regulated activities. [4]

In some countries (in particular the Scandinavian

countries) industrial relations are to a very high degree
regulated by the labour market parties themselves
(self-regulation) in contrast to state regulation of
minimum wages etc. [5]

Reasons[edit]
This article contains weasel words: vague
phrasing that often
accompanies biased or unverifiable informa
tion. Such statements should be clarified or
removed. (March 2018)
Regulations may create costs as well as benefits and
may produce unintended reactivity effects, such as
defensive practice.  Efficient regulations can be defined
[6]

as those where total benefits exceed total costs.

Regulations can be advocated for a variety of reasons,
including[ ]
citation needed

 Market failures - regulation due to

inefficiency. Intervention due to what
economists call market failure.
o To constrain sellers' options in
markets characterized
by monopoly
o As a means to implement
collective action, in order to
provide public goods
o To assure adequate information in
the market
o To mitigate
undesirable externalities
 Collective desires - regulation about
collective desires or considered
judgments on the part of a significant
segment of society[ ]
vague

 Diverse experiences - regulation with

a view
of eliminating or enhancing opportuni
 ties for the formation of diverse
preferences and beliefs[ ] vague

 Social subordination - regulation

aimed to increase or reduce social
subordination of various social
groups[ ]
citation needed

 Endogenous preferences - regulation
intended to affect the development of
certain preferences on an aggregate
level[ ]
vague

 Professional conduct - the regulation

of members of professional bodies,
either acting
under statutory or contractual
powers. [7]

 Interest group transfers - regulation

that results from efforts by self-
interest groups to redistribute wealth
in their favor, which may be disguised
as one or more of the justifications
above.
The study of formal (legal or official) and informal
(extra-legal or unofficial) regulation constitutes one of
the central concerns of the sociology of law.
History[edit]
Regulation of businesses existed in the ancient early
Egyptian, Indian, Greek, and Roman civilizations.
Standardized weights and measures existed to an
extent in the ancient world, and gold may have
operated to some degree as an international currency.
In China, a national currency system existed and paper
currency was invented. Sophisticated law existed
in Ancient Rome. In the European Early Middle Ages,
law and standardization declined with the Roman
Empire, but regulation existed in the form of norms,
customs, and privileges; this regulation was aided by
the unified Christian identity and a sense of honor
regarding contracts. :5
[8]

Modern industrial regulation can be traced to

the Railway Regulation Act 1844 in the United
Kingdom, and succeeding Acts. Beginning in the late
19th and 20th centuries, much of regulation in the
United States was administered and enforced
by regulatory agencies which produced their
own administrative law and procedures under the
authority of statutes. Legislators created these
agencies to allow experts in the industry to focus their
attention on the issue. At the federal level, one of the
earliest institutions was the Interstate Commerce
Commission which had its roots in earlier state-based
regulatory commissions and agencies. Later agencies
include the Federal Trade Commission, Securities and
Exchange Commission, Civil Aeronautics Board, and
various other institutions. These institutions vary from
industry to industry and at the federal and state level.
Individual agencies do not necessarily have clear life-
cycles or patterns of behavior, and they are influenced
heavily by their leadership and staff as well as
the organic law creating the agency. In the 1930s,
lawmakers believed that unregulated business often led
to injustice and inefficiency; in the 1960s and 1970s,
concern shifted to regulatory capture, which led to
extremely detailed laws creating the United States
Environmental Protection Agency and Occupational
Safety and Health Administration.

See also[edit]
 Consumer protection
 Rulemaking
 Regulatory state
 Deregulation
 Environmental law – Branch of law
promoting the protection of the
natural environment
 Occupational safety and health –
Field concerned with the safety,
health and welfare of people at work
 Public administration
 Regulation of science
 Regulatory capture
 Regulatory economics
 Tragedy of the commons – Depletion
of a shared resource according to
one's self-interests
  Public choice – Economic theory
applied to political science
 Precautionary principle

References[edit]
1. ^ Marcos Antonio Mendoza, "Reinsurance
as Governance: Governmental Risk
Management Pools as a Case Study in the
Governance Role Played by Reinsurance
Institutions", 21 Conn. Ins. L.J. 53,
(2014) https://ssrn.com/abstract=2573253
2. ^ Levi-Faur, David, Regulation and
Regulatory Governance, Jerusalem Papers
in Regulation and Governance, No.1, 2010
3. ^ Orbach, Barak, What Is Regulation? 30
Yale Journal on Regulation Online 1 (2012)
4. ^ Eraldo Banovac. Monitoringgrundlagen
der kroatischen Regulierungsbehörde für
Energie. EW − das Magazin für die Energie
Wirtschaft, Vol. 103, No. 1-2, 2004, pp. 14-
16.
5. ^ Anders Kjellberg (2017) ”Self-regulation
versus State Regulation in Swedish
Industrial Relations” In Mia Rönnmar and
Jenny Julén Votinius (eds.) Festskrift till Ann
Numhauser-Henning. Lund: Juristförlaget i
Lund 2017, pp. 357-383
6. ^ McGivern, Gerry; Fischer, Michael Daniel
(1 February 2012). "Reactivity and reactions
to regulatory transparency in medicine,
psychotherapy and
counselling"  (PDF). Social Science &
Medicine. 74 (3): 289–
 296. doi:10.1016/j.socscimed.2011.09.035. 
PMID 22104085.
7. ^ Harris, Brian; Andrew Carnes (February
2011). Disciplinary and Regulatory
Proceedings. Jordans. ISBN 978-1-84661-
270-1.
8. ^ John Braithwaite, Péter Drahos.
(2000). Global Business Regulation.
Cambridge University Press.

External links[edit]
Wikiquote has quotations
related to: Regulation

Look up regulation in
Wiktionary, the free
dictionary.

 Centre on Regulation in Europe

(CERRE)
 New Perspectives on Regulation
(2009) and Government and
Markets: Toward a New Theory of
Regulation (2009)
 US/Canadian Regulatory
Cooperation: Schmitz on Lessons
from the European Union, Canadian
Privy Council Office Commissioned
Study
  A Comparative Bibliography:
Regulatory Competition on Corporate
Law
Wikibooks[edit]
 Legal and Regulatory Issues in the
Information Economy
 Lawrence A. Cunningham, A
Prescription to Retire the Rhetoric of
'Principles-Based Systems' in
Corporate Law, Securities Regulation
and Accounting (2007)
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 Economics of regulation
  Legal research
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