Taming Regulation

Despite three decades of vigorous efforts at deregulation across the government, regulation remains ubiquitous. It also continues to be unpopular because it forces individuals and businesses to do things—frequently costly and unpleasant things—that they don't want to do. If regulatory programs are to survive and remain effective, the challenge posed by their endemic unpopularity and political vulnerability must be met. Unlike much of the existing literature on regulation, Taming Regulation begins with the assumption that the government's capacity to utilize regulation as a policy tool is vital. The book examines the questions of how to make the inherently coercive aspects of regulation more politically acceptable in the present antiregulatory environment and how the legal and administrative challenges of reform in ongoing regulatory programs might best be approached. The authors explore these issues through a case study of administrative reform in the Superfund program. Chartered with an ambitious mission to clean up the nation's hazardous waste sites, Superfund was from its inception a uniquely aggressive and unpopular program. Yet despite the election in 1994 of a Republican Congress committed to fundamental changes in environmental regulation, the Superfund program weathered the storm and remains intact today. The authors credit this political and programmatic success to a series of artfully designed and orchestrated internal reforms that softened Superfund's implementation, thus increasing its political support while retaining its potent coercive tools. Taming Regulation provides a cautionary discussion of both the necessity and the difficulty of regulatory reform. It is essential reading for students of regulation and environmental policy, for practitioners contemplating reform of ongoing regulatory programs, and for those interested in the checkered history of Superfund.

. . . offering a concise and illuminative account of the regulatory state . Particularly impressive is its excellent contextualisation of the birth and spread of a regulatory paradigm as well as its potential impact equally on traditional welfare concerns and emerging problems involving the environment. . . it provides a good introduction into regulatory politics. Its historical and intellectual background to this transition is superb and offers insights for the uninitiated and knowledgeable alike. Moreover, it is excellent in its sustained description of the potential problems of regulation and the ways it may be tamed for achieving broader social and the ethical objectives. . . a welcome addition to the current interest on regulation. . . it provides readers with a comprehensive description of regulation and the ways in which it may be improved. Peter Bloom, In-Spire, Journal of Law, Politics and Societies Professor Veggeland s ambitious study of the regulatory state is an exceptionally timely and apposite analysis. It combines theoretical, historical, and empirical perspectives on the evolution of state regulation of the economy over the past century with an emphasis on the past thirty years. It covers issues such as the rise and fall of indicative and central planning (in the context of democratic capitalism), the loss of national sovereignty in the era of European and global integration, and new theories and practice in public administration. Rich with contemporary cases it will contribute to the agonizing reappraisal of policy trends in western democracies. Eric S. Einhorn, University of Massachusetts Amherst, US It is not often that the experience of a Northern European semi-periphery speaks directly to a core European, and indeed increasingly global, problematic. Taming the Regulatory State is just such an achievement, combining a comprehensive treatment of the European governance literature with a keen eye for the political as well as ethical dimensions of contemporary state re-structuring. A signally important book. Olivier Kramsch, Radboud Universiteit, the Netherlands Taming the Regulatory State incisively analyses the regulatory top-down regimes that are currently dominant and in crisis. Taking a critical perspective, the book offers an account of the inherent vulnerability of the regulatory state caused by one-sided economic thinking and the predominance of governing through hard regulation. Regulatory governance is inclined to eliminate transparency and downgrades the importance of social forces. One striking case that exposes these underlying tensions is the activity of the state-run international investment funds. This volume sets the Norwegian Pension Fund Global (formerly the Norwegian Petroleum Fund) into this context and shows how the attempt to regulate through ethical guidelines is an illuminating example of an effort, however imperfect, to revive politics and ethics in areas where the market focus usually obscures other considerations. This state-of-the-art book will be invaluable for students and scholars of political science and political economy and will also provide an engaging read for civil servants and policymakers.

Taming the Corporation offers a much-needed positive vision of regulation. Using numerous case examples to address real life challenges, it stresses the role of good regulation in allowing businesses to flourish, serve markets effectively, and respect broader interests, and provides a method of designing regulation in its most productive form.

Despite three decades of vigorous efforts at deregulation across the government, regulation remains ubiquitous. It also continues to be unpopular because it forces individuals and businesses to do things—frequently costly and unpleasant things—that they don't want to do. If regulatory programs are to survive and remain effective, the challenge posed by their endemic unpopularity and political vulnerability must be met. Unlike much of the existing literature on regulation, Taming Regulation begins with the assumption that the government's capacity to utilize regulation as a policy tool is vital. The book examines the questions of how to make the inherently coercive aspects of regulation more politically acceptable in the present antiregulatory environment and how the legal and administrative challenges of reform in ongoing regulatory programs might best be approached. The authors explore these issues through a case study of administrative reform in the Superfund program. Chartered with an ambitious mission to clean up the nation's hazardous waste sites, Superfund was from its inception a uniquely aggressive and unpopular program. Yet despite the election in 1994 of a Republican Congress committed to fundamental changes in environmental regulation, the Superfund program weathered the storm and remains intact today. The authors credit this political and programmatic success to a series of artfully designed and orchestrated internal reforms that softened Superfund's implementation, thus increasing its political support while retaining its potent coercive tools. Taming Regulation provides a cautionary discussion of both the necessity and the difficulty of regulatory reform. It is essential reading for students of regulation and environmental policy, for practitioners contemplating reform of ongoing regulatory programs, and for those interested in the checkered history of Superfund.

Virtually all enterprises are regulated. Regulation is crucial not only to economic success but also to protecting consumer, worker, environmental, and other interests. Yet it is often considered a tiresome interference with entrepreneurial activity. This negative vision is unhelpful in addressing business and other needs for productive forms of regulation. Taming the Corporation offers an alternative, positive, vision of regulation. It stresses the role of good regulation in allowing businesses to flourish, serve markets effectively, and respect broader interests. This perspective paves the way for more productive regulatory designs. It looks at the characteristics of good regulation and provides businesses, consumers, and citizens with the arguments that will enable them to push for regulatory controls that serve their needs. Understandings of regulation are served by looking at the potentially positive roles of control strategies ranging from 'command laws' to 'nudges'. This book not only discusses regulatory theory but also uses numerous case examples to illustrate real life challenges and address three key regulatory challenges in the modern world: regulating for sustainability, addressing global warming, and controlling digital platforms.

Taming the Fringe analyses the regulation and evolution of two credit products that were, and remain, vital to the working poor. Policymakers have struggled with pawnbroking and moneylending because they raise broader issues pertaining to poverty, capitalism and financial regulation. The values of easily accessible credit and financial independence compete with society’s desire to protect people from predatory loans. Policymakers have pondered whether regulation can lower costs without reducing access for those most in need of small cash loans. Can government policy protect borrowers while also providing sufficient profit for lenders? The many attempts at doing so reveal the difficulty of safeguarding the needs of people who have experienced financial trouble before seeking a loan. Taming the Fringe is the first extended study of the payday lending and pawnbroking markets in Britain, and the only one to examine over 160 years of financial results and market data. This work explains why small-value lenders have generated such passionate debate, even being described as the devil incarnate. It adds to our knowledge of fringe banking and the evolving role of financial regulation to protect the working poor. Since 1870, pawnbrokers and moneylenders have actively shaped regulation – a viewpoint the existing literature does not address adequately. This work contributes to the scholarly and policy dialogue on financial inclusion, working-class poverty and the development and legitimacy of fringe lending. This book analyses the motivation, content and outcome of critical regulatory episodes that have shaped fringe banking. While historians have written volumes about consumer credit, few have analysed why elite policymakers have sought to protect the working poor from some credit markets. This work demonstrates that, across time, conflicting views on poverty and liberal economic theory have, to varying degrees, influenced how the government has protected the working poor, and will be of interest to financial and economic historians.

Post-crisis attempts to limit cyclical finance don't lead to major restraints, but rather a sustaining financial markets' expansion.

Despite having the highest rates of cannabis use in the continent, France enforces the most repressive laws against the drug in all of Europe. Perhaps surprisingly, France was once the epicentre of a global movement to medicalize cannabis, specifically hashish, in the treatment of disease. In Taming Cannabis David Guba examines how nineteenth-century French authorities routinely blamed hashish consumption, especially among Muslim North Africans, for behaviour deemed violent and threatening to the social order. This association of hashish with violence became the primary impetus for French pharmacists and physicians to tame the drug and deploy it in the homeopathic treatment of mental illness and epidemic disease during the 1830s and 1840s. Initially heralded as a wonder drug capable of curing insanity, cholera, and the plague, hashish was deemed ineffective against these diseases and fell out of repute by the middle 1850s. The association between hashish and Muslim violence, however, remained and became codified in French colonial medicine and law by the 1860s: authorities framed hashish as a significant cause of mental illness, violence, and anti-state resistance among indigenous Algerians. As the French government looks to reform the nation's drug laws to address the rise in drug-related incarceration and the growing popular demand for cannabis legalization, Taming Cannabis provides a timely and fascinating exploration of the largely untold and living history of cannabis in colonial France.