Skip to main content
×
×
Home
  • Print publication year: 2009
  • Online publication date: January 2010

14 - The Prospects for Effective Coregulation in the United States: A Historian's View from the Early Twenty-First Century

Summary

As just about any observer of the American political scene over the past thirty years can attest, traditional modes of economic regulation by administrative agencies fell sharply out of favor in the United States in the quarter century after 1975. In areas as various as transportation, workplace safety, the environment, banking, and labor standards, skepticism about regulatory agencies became a dominant premise of policy debates. The assumptions and precepts of public choice scholarship, so carefully laid out by Jessica Leight in her contribution to this volume, filtered into the conceptual assumptions of elected officials and leading political commentators alike. Politicians and governmental officials increasingly worried about the “capture” of public agencies by private interests, leading to the latter's unjust enrichment; they grew ever more disquieted by the possibility that regulatory action would produce unanticipated outcomes that would harm economic growth; they feared that the enduring shortcomings of government – venal officialdom and tangled bureaucracy – would hamstring regulatory responses to even substantial socioeconomic problems. Although the critiques of the regulatory state emanated most consistently from political conservatives and libertarians, as well as business groups that viewed particular regulatory regimes as antithetical to their interests, they significantly shaped the worldview of many moderates and liberals as well.

The most prominent consequence of the intellectual and political on-slaught against the administrative state has been deregulation – the selective dismantling of legal restrictions, mechanisms of governmental price/rate/fare setting, and systems of administrative monitoring that had previously structured market activity.

Recommend this book

Email your librarian or administrator to recommend adding this book to your organisation's collection.

Government and Markets
  • Online ISBN: 9780511657504
  • Book DOI: https://doi.org/10.1017/CBO9780511657504
Please enter your name
Please enter a valid email address
Who would you like to send this to *
×
Vietor, Richard, Contrived Competition: Regulation and Deregulation in America (Cambridge, Mass., 1996)
Calomaris, Charles, U.S. Banking Deregulation in Historical Perspective (New York, 1998)
Bernstein, Michael, “Regulatory Economics and Its Discontents: Some Theoretical and Historical Observations,” Info: the Journal of Policy, Regulation and Strategy for Telecommunications, Information and Media 9 (2007): 28–43
Borenstein, Severin, “The Trouble with Electricity Markets: Understanding California's Restructuring Disaster,” Journal of Economic Perspectives 16 (2002): 191–211
Sinha, Dipendra, Deregulation and Liberalisation of the Airline Industry: Asia, Europe, North America and Oceania (Aldershot, 2001)
Vollbrecht, Jörg et al., eds., Insurance Regulation Liberalisation and Financial Convergence (Paris, 2001)
Galli, Giampaolo and Pelkmans, Jacques, eds., Regulatory Reform and Competitiveness in Europe (Cheltenham, 2000)
Kagami, Mitsuhiro and Tsuji, Masatsugu, eds., Privatization, Deregulation and Economic Efficiency: a Comparative Analysis of Asia, Europe and the Americas (Cheltenham, 2000)
Hahn, Robert W., “State and Federal Regulatory Reform: A Comparative Analysis,” Journal of Legal Studies 29 (2000): 873–912
Parker, Christine, The Open Corporation: Effective Self-Government and Democracy (New York, 2002), 14
Petty, Ross, “FTC Advertising Regulation: Survivor or Casualty of the Reagan Revolution?American Business Law Journal 30 (1992): 1–34
Judis, John B., “It's the EPA and OSHA, Stupid,” The American Prospect 21 (Sept. 25–Oct. 9, 2000), 12–13
Johnson, Carrie, “SEC Enforcement Cases Decline 9% Staff Reduced Because of Budget Crunch,” Washington Post, Nov. 3, 2006, D3
Flecher, E. Marla, “Product Recalls: Gaping Holes in the Nation's Product Safety Net,” Journal of Consumer Affairs 37 (2003): 170–79
Labaton, Stephen, “Safety Chief Is Opposing More Money,” New York Times, Oct. 30, 2007, C1
Minow, Martha and Freeman, Jody, eds., Government by Contract: Outsourcing and American Democracy (Harvard University Press, 2009)
Coglianese, Cory and Lazer, David, “Management-Based Regulation: Prescribing Private Management to Achieve Public Goals,” Law and Society 37 (2003): 691–730
Steelman, Todd and Rivera, Jorge, “Voluntary Environmental Programs in the United States: Whose Interests Are Served,” Organization & Environment 19 (2006): 507
Garvin, David, “Can Industry Self-Regulation Work?California Management Review 25 (1983): 46
Singh, Gurjeet, “Business Self-Regulation and Consumer Protection in India: A Critique,” Journal of Consumer Policy 16 (1993): 1–33
Lazzarini, Sergio and Mello, Pedro Carvalho, “Governmental Versus Self-Regulation of Derivative Markets: Examining the U.S. and Brazilian Experience,” Journal of Ecnomics & Business 53 (2001): 185–207
Urminsky, Michael, ed., “Self-Regulation in the Workplace: Codes of Conduct, Social Labeling and Socially Responsible Investment,” International Labor Organization Working Paper (2002)
Martinez, Marian Garcia, Fearne, Andrew, Caswell, Julie, and Henson, Spencer, “Co-regulation as a Possible Model for Food Safety Governance: Opportunities for Public-Private Partnerships,” Food Policy 32 (2007): 299–314
Sampson, Helen and Bloor, Michael, “When Jack Gets out of the Box: The Problems of Regulating a Global Industry,” Sociology 41 (2007): 551–69
The Private Role in Public Governance,” New York University Law Review 75 (2000): 551–55, 640–47
Balleisen, Edward, “Private Cops on the Fraud Beat: American Business Self-Regulation and Its Discontents, 1895–1932,” Business History Review 83 (2009): 113–60
Knowles, Scott, “Inventing Safety: Fire, Technology, and Trust in Modern America,” Ph.D. dissertation, Johns Hopkins University (2003), 184–259
Westwood, Howard C. and Howard, Edward G., “Self-Government in the Securities Business,” Law and Contemporary Problems 17 (1952): 523–24
Jost, Timothy, “The Joint Commission on Accreditation of Hospitals: Private Regulation of Health Care and the Public Interest,” Boston College Law Review 24 (1983): 850–52
Kinney, Eleanor, “Private Accreditation as a Substitute for Direct Government Regulation in Public Health Insurance Programs: When Is It Appropriate?Law and Contemporary Problems 57 (1994): 52–53
Rees, Joseph, Hostages of Each Other: The Transformation of Nuclear Safety since Three Mile Island (Chicago, 1994)
Kurland, Nancy, “The Defense Industry Initiative: Ethics, Self-Regulation, and Accountability,” Journal of Business Ethics 12 (1993): 137–46
Balleisen, Edward, Scenes from a Corporate Makeover: Columbia/HCA and Healthcare Fraud, 1992–2001 (Durham, 2003)
King, Andrew and Lenox, Michael, “Industry Self-Regulation without Sanctions: The Chemical Industry's Responsible Care Program,” Academy of Management Journal 43 (2000): 698–716
Antle, John M., “Efficient Food Safety Regulation in the Food Manufacturing Sector,” American Journal of Agricultural Economics 78 (1996): 1243
Eisner, Marc, “Corporate Environmentalism, Regulatory Reform, and Industry Self-Regulation: Toward Genuine Regulatory Reinvention in the United States,” Governance 17 (2004): 146–67
Ettore, Barbara, “Crime and Punishment: A Hard Look at White-Collar Crime,” Management Review 83 (May 1994): 10–16
Ferrell, O. C., LeClair, Debbie Thorne, and Ferrell, Linda, “The Federal Sentencing Guidelines for Organizations: A Framework for Ethical Compliance,” Journal of Business Ethics 17 (1998): 353–64
Barry, Megan, “Why Ethics Programs Can Fail,” Journal of Business Strategy 23 (Nov./Dec. 2002): 37–40
Johnson, Sarah, “Another Increase in Compliance Costs,” CFO.Com, Sept. 21, 2006
Spinnato, John M., Hennelly, Debra Sabatini, and Lauer, Steven A., “A General Counsel And His Experts Tackle Risk Assessments,” The Metropolitan Corporate Counsel, Oct. 2006, 50
Chatterji, Aaron and Listokin, Siona, “Corporate Social Irresponsibility,” Democracy Journal (Winter 2007): 52–56
Gunningham, Neil and Rees, Joseph, “Industry Self-Regulation: An Institutional Perspective,” Law and Policy 19 (1997): 400–2
Braithwaite, John, “Enforced Self-Regulation: A New Strategy for Corporate Crime Control,” Michigan Law Review 80 (1982): 1466–507
Michael, Douglas C., “Federal Agency Use of Audited Self-Regulation as a Regulatory Technique,” Administrative Law Review 47 (1995): 171–253
Weimer, David, “The Puzzle of Private Rulemaking: Expertise, Flexibility, and Blame Avoidance in U.S. Regulation,” Public Administration Review 66 (2006): 574–75
Potoski, Matthew; Prakash, Aseem, “The Regulation Dilemma: Cooperation and Conflict in Environmental Governance,” Public Administration Review 64 (Mar/Apr 2004): 154
Lipton, Eric, “Safety Agency Faces Scrutiny amid Changes,” New York Times, Sept. 2, 2007, A1
Gunningham, Neil, Phillipson, Martin, Grabosky, Peter, “Harnessing Third Parties as Surrogate Regulators: Achieving Environmental Outcomes by Alternative Means,” Business Strategy and the Environment 8 (1999): 221–23
McCraw, Thomas K., “With Consent of the Governed: SEC's Formative Years,” Journal of Policy Analysis and Management 1 (1982): 346–70
Seligman, Joel, The Transformation of Wall Street: A History of the Securities and Exchange Commission and Modern Corporate Finance (Boston, 1995), 184–89, 323–34
Braithwaite, John and Drahos, Peter, Global Business Regulation (Cambridge, 2000), 253–54, 605
Trade Rules and Trade Conferences: The FTC and Business Attack Deceptive Practices, Unfair Competition, and Antitrust Violations,” Yale Law Journal 62 (1953): 913–16
‘Corrective Advertising’ Orders of the Federal Trade Commission.” Harvard Law Review 85 (1971): 482–84
Bardach, Eugene and Kagan, Robert, Going by the Book: The Problem of Regulatory Unreasonableness (Philadelphia, 1982)
Barkenbus, Jack, “Is Self-Regulation Possible,” Journal of Policy Analysis and Management (1983): 576–88
Department Store Has Accuracy Meeting,” Accuracy 1 (Sept. 1925): 1
Scheurman, William, “Is Republican Regulatory Law the Answer to Globalization?University of Toronto Law Journal 52 (2002): 301–11
Gary R Weaver, Linda K. Trevino, and Philip L Cochran, “Corporate Ethics Policies of the Mid 1990s: An Empirical Study of the Fortune 1000,” Journal of Business Ethics 18 (Feb. 1999): 283–94
,Office of Inspector General, U.S. Securities and Exchange Commission, SEC's Oversight of Bear Stearns and Related Entities: The Consolidated Supervised Entity Program (Washington, D.C., 2008)
Labaton, Stephen, “Agency's '04 Rule Let Banks Pile up New Debt,” New York Times, Oct. 3, 2008, p. A1
Ogus, Anthony, “Rethinking Self-Regulation,” Oxford Journal of Legal Studies 15 (1995): 97–108
Vogel, David, The Market for Virtue: The Potential and Limits of Corporate Responsibility (Washington, 2005)
Enoch, Simon, “A Greener Potemkin Village? Corporate Responsibility and the Limits of Growth,” Capitalism, Nature, Socialism 18 (June, 2007): 79–82
Rees, Joseph, Reforming the Workplace: A Study of Self-Regulation in Occupational Safety (Philadelphia, 1988)
Fairman, Robin and Yapp, Charlotte, “Enforced Self-Regulation, Prescription, and Conceptions of Compliance with Small Businesses: The Impact of Enforcement,” Law and Policy 27 (2005): 491–519
Hutter, Bridget, “Is Enforced Self-Regulation a Form of Risk Taking?: The Case of Railway Health and Safety,” International Journal of Sociology of Law 29 (2001): 379–400
Havinga, Tetty, “Private Regulation of Food Safety by Supermarkets,” Law and Policy 28 (2006): 515–33
Stiglitz, Joseph, The Roaring Nineties: A New History of the World's Most Prosperous Decade (New York, 2003)
Farzad, Roben, “Let the Blame Begin: Everyone Played Some Role,” Business Week Aug. 6, 2007, 32
Lenox, Michael and Nash, Jennifer, “Industry Self-Regulation and Adverse Selection: a Comparison across Four Trade Association Programs,” Business Strategy and the Environment 12 (2003): 343–56
Grabosky, Peter, “Using Non-Governmental Resources to Foster Regulatory Compliance,” Governance 8 (1995): 527–50
Hopkins, Andrew, “Beyond Compliance Monitoring: New Strategies for Safety Regulators,” Law and Policy 29 (2007): 210–12
Parker, Christine, “Compliance Professionalism and Regulatory Community: The Australian Trade Practices Regime,” Journal of Law and Society 26 (1999): 215–39
Silver, Deborah, “Government Report Rebukes FDA for Lax Regulation of Shellfish Safety,” Restaurants and Institutions 111 (Sept. 1, 2001): 60
Dyer, Geoff, “A Big Crisis of Confidence,” Financial Times, Oct. 9, 2007, 6
Short, Jodi and Toffel, Michael, “Coerced Confessions: Self-Policing in the Shadow of the Regulator,” Journal of Law, Economics, & Organization, forthcoming
Ayres, Ian and Braithwaite, John, Responsive Regulation: Transcending the Regulation Debate (New York, 1992)
Cox, James, “The Case against a Judicially Created, Common Law Self-Audit or Self-Evaluation Privilege Applicable to Environmental Cases,” Fordham Environmental Law Journal 51 (2004): 1–30
,Department of the Treasury, Blueprint for a Modernized Financial Regulatory Structure (Washington, D.C., 2008), 123