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Vol 23 No 3 March/April 2018

Book of the Month

Cover of Scamell and Gasztowicz on Land Covenants

Scamell and Gasztowicz on Land Covenants

Price: £225.00

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Government and Markets: Toward a New Theory of Regulation

Edited by: Edward J. Balleisen, David Moss A.

ISBN13: 9780521280532
Published: January 2012
Publisher: Cambridge University Press
Country of Publication: UK
Format: Paperback (Hardback in 2009)
Price: £28.99

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After two generations of emphasis on governmental inefficiency and the need for deregulation, we now see growing interest in the possibility of constructive governance, alongside public calls for new, smarter regulation. Yet there is a real danger that regulatory reforms will be rooted in outdated ideas. As the financial crisis has shown, neither traditional market failure models nor public choice theory, by themselves, sufficiently inform or explain our current regulatory challenges. Regulatory studies, long neglected in an atmosphere focused on deregulatory work, is in critical need of new models and theories that can guide effective policy-making. This interdisciplinary volume points the way toward the modernization of regulatory theory. Its essays by leading scholars move past predominant approaches, integrating the latest research about the interplay between human behavior, societal needs and regulatory institutions. The book concludes by setting out a potential research agenda for the social sciences.

Banking and Finance
Part I. Beyond Market Failure
1. Government failure vs. market failure: principles of regulation Joseph E. Stiglitz
2. Effective regulation through credible cost-benefit analysis: the opportunity costs of superfund Michael Greenstone
3. From 'state interference' to the 'return to the market': the rhetoric of economic regulation from the old Gilded Age to the new Mary O. Furner
4. Lessons from Europe: some reflections on the European Union and the regulation of business Neil Fligstein
5. Confidence games: how does regulation constitute markets? Daniel Carpenter
Part II. Beyond the Economic Theory of Politics
6. The end of special interests theory and the beginning of a more positive view of democratic politics Donald Wittman
7. Public choice: a critical reassessment Jessica Leight
8. The paranoid style in the study of American politics David A. Moss and Mary Oey
9. Law, policy, and cooperation Yochai Benkler
Part III. Beyond Command and Control
10. What opportunity is knocking? Regulating corporate governance in the United States Mary A. O'Sullivan
11. Taxation as a regulatory tool: lessons from environmental taxes in Europe Monica Prasad
12. Redesigning regulation: a case study from the consumer credit market Elizabeth Warren
13. Origins and regulatory consequences of the subprime crisis Barry Eichengreen
14. Prospects for economic 'self-regulation' in the United States: an historian's view from the early twenty-first century Edward J. Balleisen
15. Deregulation theories in a litigious society: American antitrust and tort Tony Freyer
16. Markets in the shadow of the state: an appraisal of deregulation and implications for future research Marc Allen Eisner