Regulation describes an array of public policies explicitly designed to govern economic activity and its consequences at the level of the industry or firm. In the first half of the course, we will explore of the history of economic regulation (e.g., finance, transportation), the new social regulation (e.g., environmental protection, occupational safety and health), deregulation, and regulatory reform. The second half of the course will turn to an examination of governance. Governance focuses on efforts to develop solutions to regulatory problems by engaging a much larger field of forces (e.g., various nongovernmental organizations, trade associations, standard setting associations, supply chains, markets) in addition to using standard policy instruments. We will consider the extent to which effective governance is compromised (or enhanced) by global competition and the quest for corporate profitability. |