Allocating Lawmaking Powers: Self-Regulation Vs Government Regulation

“For example, the federal government regulates the quality of food and water, the safety of workplaces and airspaces, and the integrity of the banking and finance system.” (Bianco, Canon 2011, p 582) Regulations find out if the product is a market failure. There are two types of regulations, which are economic and social. “Economic regulations sets prices or conditions on entry of firms into an industry, where as social regulation address issues of quality and safety.” (Bianco, Canon 2011, p 582) Economic regulations are concerned with the price regulation of monopolies.

Regulating a variety of aspects of business and society is an old and often controversial aspect of government, particularly at the national level. Much of what the national government does, or fails to do, has an impact on individual citizens, private corporations and other business enterprises, agricultural producers and marketers, foreign governments, labor unions, and state and local governments.

Assessing and quantifying these types of behavioral reactions regarding the economic consequences of a proposed standard will always pose difficulties for the FASB, “There is no way of determining optimal regulatory policies that maximize the social welfare or the public interest. The best that regulators can do is to try to determine that a net benefit exists-that is, an excess of benefits over costs.” (Wolk et al p 129)

The scope of this paper is to break down and define social regulation, industrial regulation, and natural monopolies by explaining how they have impacted society and why they exist. It is also the intent to summarize the Antitrust Laws, explain the major functions of the five primary federal regulatory commissions that govern social regulation, and identify three main regulatory commissions of industrial regulation.

Numerous independent agencies can impose restrictions on prices, entry into markets, disclosures or contract terms. Yet agencies often conduct little or no economic analysis to identify the need for, or effects of, restrictions before they're adopted. So agencies can impose massive mandates

This also means that our political leaders that should be concerned about the effects of regulation. In my opinion, there advantages and disadvantages to regulation. The advantages are the Government should be regulating certain things to make life safer and to make America stronger, and better place to live. The disadvantages are, the government should be regulating with more common sense. What I'm saying is the government should consider the costs and the benefits of what they're regulating. Unfortunately, if the Government does not, Americans run the risk of some kind of regulation that can't be explained by anyone except a bunch of lawyers which is going to cost the taxpayers more

Likewise, "Enlightened Regulatory Capture" by David Thaw, contributed alternative views of the role of interest groups and exterior actors in the public policy making process. This will be a beneficial component of literature because it will express how the regulatory process must, inevitably, have active outside players to run effectively. When addressing the issues of regulatory capturing in the industry and executive agencies, it will be important to consider balancing the role of outside players.

According to our book Environmental Science for a Changing World, written by W.H. Freeman the environmental problems can be tremendously complex, and they are inclined to have numerous causes and each of them are challenging to approach. Therefore, when one party tries to give a response to an environmental problem, this will generate a different reaction to the other party, and our book called this as a “wicked problems”. Consequently, a wicked problem is a problem that is impossible to solve because of opposing ideas, and points of view of a determinate problem that are often hard to recognize. Moreover, our book stated that the biologist Jared Diamond identifies five factors that determine whether a society will succeed or fail these factors

Another key question is why do we have regulation? Regulation is meant to serve the best interest of the public. Regulation can serve the private interest, public interest or both. Almost every aspect of our daily life is regulated (as per Regulation: A Primer, page 1). Regulation is very comprehensive to the point that it extends to the moment we wake up to the moment we go back to bed at night. In the morning, there are regulations that dictate which airwaves are used by your radio station; in addition, food and drug agencies regulate the content of your toothpaste, soap,

The environmental movement has drastically changed over the last few decades, encompassing science, political activism and our social conscience. It is one of the fastest growing political and social movements in the world. Since the mid 1970s, this international movement has engaged the global community indluding many countries, the business world, media, and non-governmental organizations, all who have pushed for increased regulations and compliance towards protecting the environment. Nations within and outside of the UN have been pressured into pursuing a more sustainable future.Our ability to adapt, as well as to compromise, will direct the result of how we will survive in the future. States will have to cooperate and understand problems other nations are facing, and be able to commit to wanting a sustainable earth. Environmental norms are changing due to the overwhelming social push to reduce global warming, causing people to bandwagon to fight for environmental sustainability. Unfortunately, the motives for this movement are not always clear. While citizens of developed countries appear to have the right justifications for saving our planet and are attempting to address, global warming resulting in climate change, this heated political issue has provided NGO’s, governments (state actors) and corporations a platform to demonstrate interest in social issues, but also an opportunity to capitalize of for their own financial or political gain.

According to Paehlke, R. (1990), regulation is the policy tool of choice when it concerns environmental protection. Regulation is frequently essential even though there is a collection of policy tools obtainable. Non-regulatory methods might in some situations, be more suitable or aid as beneficial enhancements to an operational governing system. According to the author, there are three types of non-regulatory approaches, which are recognized as indirect, participatory, and authoritative.

Problems facing regulatory government supports deregulation. First, the cost in regulatory jurisdictions is quite high. Regulated markets tend to offer fewer benefits to society than free markets. Also, private sectors are self-regulating by employing independent external auditors whereas it is a general observation that lawsuits are an incentive to provision quality services by firms. Regulation reforms enshrined in the constitution monitor the legislation, executive and judicial structure of the regulatory agencies as the government seeks to create and maintain a better working environment in the society. Traditional managerial approach to governing administration is characterized by red-tape and bureaucratic one sided decision making whereas the new public management approach focuses mainly on bilateral decision-making and is compliance-oriented. Political strategies have transformed from a self-centered, corrupt inclusion in the agencies to a more open centered approach that focuses on its citizens’ welfare, just as the legalistic approach focuses on maintaining reasonability in the regulation process with keen observation of the rule of

The world consists of many opposing views on how the world should function and how to best interact with it. The first points describes different environmental worldviews and the second point describes the importance of resource conservation.

Environmental issues have been a cause of a lot of debate in the recent past. Governments and nongovernmental organizations have been in constant consultations on how to help protect the environment. Apparently, as a result of man’s many actions, the natural environment is getting torn apart so quickly that the coming generations will not enjoy this kind of environment, unless a

Environmental problems are something which belongs to nature or known as “Mother Earth” [13]. Nature was created to help people survive from gathering foods until build a house. This phenomenon happens continuously without thinking how much damage that nature has because human’s fault. Nature gradually becomes worse and animal’s life in danger. People who are aware of the importance of nature react. Those people do several ways to save the environment. Although these efforts can return back the environment, these efforts only can be hold temporarily. This problem happens because those people who are aware of the environment only slightly; for remaining, there are people either do not know or do not care about the nature. People’s efforts