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  1. Home
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  3. Government and Markets
  • Cited by 13
Publisher:
Cambridge University Press
Online publication date:
January 2010
Print publication year:
2009
Online ISBN:
9780511657504
DOI:
https://doi.org/10.1017/CBO9780511657504
Subjects:
Economics, Macroeconomics
Information

Book description

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 Yet there is a real danger that regulatory reforms will be rooted in outdated ideas.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.

Reviews

Review of the hardback:‘The heritage of James Tobin is well represented by this outstanding volume. The authors analyze the relations of government and the market from many different angles, showing the fallacies of simple critiques on the basis of deep scholarship.'

Kenneth J. Arrow - Stanford University

Review of the hardback:‘Pointing the way beyond simplistic capture theories of regulation, these essays illustrate how institutionally informed analysis can help to rebuild a constructive relationship between governments and markets.'

Tom Baker - University of Pennsylvania Law School

Review of the hardback:‘A deeply distinguished multidisciplinary gathering lays out new directions and bold challenges for regulatory theory and practice. The hope and promise of this work is for a more civilized and creative capitalism.'

John Braithwaite - Australian National University

Review of the hardback:‘A crisis has rekindled widespread interest in regulation. This collection of articles by outstanding social scientists and historians offers striking insights and fresh perspectives. Scholars and policymakers alike will benefit from their insightful and incisive discussions.'

Bruce Carruthers - North Western University

Review of the hardback:‘Governments and Markets is an engaging and ambitious rethinking of the role of regulation in the twenty-first century. The range of ideas and arguments throughout this volume will push readers to revisit their assumptions about regulatory activity and will push fellow scholars to refocus their research agendas to topics such as regulatory decision making and design. Combining strong research with contemporary relevance, the book will be of interest to both new students of public policy and long-standing experts.'

Mark Stephan - Washington State University, Vancouver

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