By Bronwen Morgan, Karen Yeung
In recent times, law has emerged as some of the most particular and significant fields of analysis within the social sciences, either for policy-makers and for students who require a theoretical framework that may be utilized to any social zone. This well timed textbook presents a conceptual map of the sphere and an available and important creation to the topic. Morgan and Yeung set out a various and stimulating choice of fabrics and provides them context with a entire and demanding statement. through adopting an interdisciplinary strategy and emphasising the position of legislation in its broader social and political context, it is going to be a useful device for the coed coming to legislation for the 1st time. This truly based, academically rigorous name, with a contextualised standpoint, is vital analyzing for all scholars of the topic.
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Additional resources for An Introduction to Law and Regulation: Text and Materials (Law in Context)
Thus both these literatures are complementary to our approach and, taken together, all contribute to enriched views of the law’s relationship to regulation. In addition, and especially in the context of broader social science approaches to regulation, there are three strands of literature that inhabit overlapping territory to that sketched out in this book. Among the most prominent is the rapidly expanding literature concerning risk, which inhabits even larger territory than that of regulation.
There is a prima facie case for regulatory intervention in the public interest. It is important to stress that it is only a prima facie, and not a conclusive, case for such intervention. 2 Public interest theories of regulation any efficiency gains to which it does give rise may be outweighed by increased transaction costs of misallocations created in other sectors of the economy. In other words, ‘market failure’ and ‘private law failure’ have to be compared with ‘regulatory failure’. Monopolies and natural monopolies Competition is a crucial assumption of the market model.
As we shall see, in comparison to regulation at the national level, regulation above and beyond the state raises some common issues, whilst also posing different challenges or shifts in emphasis, from the parameters provided by scholarly examination of national regulation. In particular, when reflecting upon theories and techniques of regulation, compliance and legitimacy in the supranational context, the absence of an overarching authoritative institution equivalent to the nation-state that may legitimately exercise coercive power on the basis of its democratic underpinnings has a variety of implications.