Since 1980 there have been fundamental changes in the relationship between the state and industry. With the aid of economic theory, the atuhor critically examines the ways in which public law has been adapted to this task. The book provides a systematic overview of the theory and forms of social and economic regulation. In particular, it explores: (a) why governments regulate, for which, broadly speaking two theoretical frameworks exist - 'public interest' theories (regulation aims to improve social and economic welfare) and 'economic' theories (regulation aims to satisfy the demands of private interests); (b) the evolution of different forms of regulation in Britain, extending to the current policies of privatisation and deregulation; (c) the advantages and disadvantages of the different forms of regulation, evlauted in the ligh of the two theoretical frameworks and involving an analysis of how firms respond to the various kinds of incentives and controls; (d) how choices between the different forms of regulation are made by governments and the influence exerted by interest groups (including bureaucrats) and EC law.
This book is intended for this is an original and scholarly synthesis which will be read by teachers of public law and by students taking courses in law and economics, regulation and public law.
`Very useful book, good overview.'
Professor dr. H.J. de Ru, Vrye Universiteit, The Netherlands
`Well produced, good value, comprehensive.'
T. Prosser, University of Glasgow
`The book is very well written and presented.'
N. Emiliou, Queen Mary & Westfield College, University of London
`Helpful and accessible text on a rapidly emerging area.'
J. Gott, University of Sheffield
`A much needed text. This well-researched text linking economic theories with policies demonstrates the law's association with both. Excellently written - thorough survey of the issues surrounding regulatory practices.'
Stephen Hardy, University of Staffordshire
`Anthony Ogus's book must be considered one of the best works in the area of regulation ... this book is free of legal jargon ... one of the most important books on regulation ever to be seen. Buy it.'
The Health Service Journal
`This is an excellent and long-awaited book ... there has long been a need for a work to examine the ways in which public law is used to control industrial activity. Ogus's latest offering fills this gap, and, with the aid of economic theory, presents a convincing account of the regulatory process ... While it is now, and is not intended to be, a guide to regulatory laws, it provides an outstanding explanation of the context in which those laws operate.
There seems little doubt that the book will become a classic, and so it should.'
Trading Law and Trading Law Reports
`'essential reading for any student of regulation...One common complaint from compliance officers is that theirs, being a relatively new profession, lacks much learning and scholarship of its own - these books are a worthy response to such complaints.''
Journal of Financial Regulation and Compliance
`'an impressive contribution to the justly prestigious Clarendon Law Series. There is no book currently on the market which provides a better general introduction to the areas of social and economic regulation from a legal perspective for legal and non-legal audiences...extraordinarily readable, even elegant, when discussing notoriously difficult economic concepts...But the book should have (certainly deserves to have) a readership well beyond the
academic...Ogus' book should be in the kit-bag of aspiring Ministers (or at least their advisers), Parliamentary Select Committee chairmen and women, and permanent secretaries.''
`'This book is an example of good law and economics scholarship. It is stimulating and useful to both lawyers and economists.''