By Bronwen Morgan, Karen Yeung
In recent times, rules has emerged as the most precise and significant fields of research within the social sciences, either for policy-makers and for students who require a theoretical framework that may be utilized to any social quarter. This well timed textbook presents a conceptual map of the sphere and an obtainable and important advent to the topic. Morgan and Yeung set out a various and stimulating choice of fabrics and provides them context with a entire and significant remark. via adopting an interdisciplinary procedure and emphasising the function of legislation in its broader social and political context, will probably be a useful software for the scholar coming to law for the 1st time. This in actual fact dependent, academically rigorous name, with a contextualised point of view, is vital studying for all scholars of the topic.
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Additional info for An Introduction to Law and Regulation: Text and Materials (Law in Context)
An externality may give rise to a misallocation but the administrative and other costs of correcting it may outweigh the social benefits arising from such action. It is for this reason that many trivial, or relatively trivial, externalities are ignored. However, what may lead to a trivial cost for each individual affected may in aggregate involve non-trivial and even substantial costs. The series of bomb hoaxes which at the time of writing are afflicting the operation of the main London railway termini illustrates the point well.
Strategic models of post regulatory law’, in Teubner, G. ) Dilemmas of Law in the welfare State, Berlin: Walter de Gruyter. Suggested further reading Baldwin, R. and Cave, M. 1999. Understanding Regulation: Theory, Strategy and Practice, Oxford: Oxford University Press. , and McCrudden, C. 1987. Regulation and Public Law, London: Weidenfeld and Nicholson. , Scott, C. and Hood, C. ) 1998. A Reader on Regulation, Oxford Readings in Socio-Legal Studies, Oxford: Oxford University Press. Coglianese, C.
Equally clearly, from a public interest perspective, the absence of ‘perfect’ information cannot itself justify intervention. Given that information is costly to supply and to assimilate, the relevant policy question is rather whether the unregulated market generates ‘optimal’ information in relation to a particular area of decision-making, that is, where the marginal costs of supplying and processing the level and quality of information in question and approximately equal to the marginal benefits that are engendered.
An Introduction to Law and Regulation: Text and Materials (Law in Context) by Bronwen Morgan, Karen Yeung