Law and Post-Privatization Regulatory Reform: Perspectives from the U.S. Experience
Yale Law School, Program for Studies in Law, Economics and Public Policy, Working Paper No. 222
23 Pages Posted: 9 Nov 1999
Date Written: October 1999
The paper identifies three paradigmatic roles that public law can play in the kind of post-privatization political and policy environments in which emerging liberal democracies are now situated. These roles are (1) to create and institutionalize a strong but rebuttable presumption in favor of market solutions to social problems; (2) to maximize the effectiveness of regulation where it is used; and (3) to establish extra-regulatory institutions and processes that can help monitor, augment, and discipline ther resulting hybrid system of markets and regulation. The paper discusses how American public law has implemented these roles.
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