Regulation as the art of intuitive judgment: a critique of the economic approach to environmental regulation

2008 ◽  
Vol 4 (4) ◽  
pp. 291-313 ◽  
Author(s):  
Oren Perez
Keyword(s):  
Systems Theory ◽  
Environmental Regulation ◽  
Environmental Economics ◽  
Self Regulation ◽  
Regulatory System ◽  
Economic Approach ◽  
Regulatory Decision ◽  
Law And Politics ◽  
The Eu

This article develops a general critique of the economic approach to environmental regulation, drawing on the insights of systems theory. It highlights, first, the problematic of subjugating the regulatory system to a single purpose – which in the context of environmental economics is interpreted as the utilitarian maximization of collective welfare. Second, it questions the teleological pretence of the regulatory project as it is configured in the economic literature. It highlights in this context the problem of trans-systemic incompatibilities, which impede the incorporation of economic ideas into the systems of law and politics. Environmental economics in both its normative and sociopolitical strands, fails to provide a convincing response to this dilemma. The article discusses two examples of the reconstruction of economic ideas within the legal and political domains, drawing on the EU and US regulatory experience. This twofold critique of the economic approach can be extended, it is argued, to every regulatory project with far-reaching teleological ambitions. The article applies this critique to some alternative regulatory visions, such as self-regulation, reflexive law and responsive regulation, noting in this context the limitations of systems theory itself. It concludes with a discussion of the role of intuition in regulatory decision-making.

scholarly journals The role of finance in environmental protection: A report on regulators’ perspective

2019 ◽  
Vol 9 (4) ◽  
pp. 30-40 ◽  
Author(s):  
Vittorio Boscia ◽  
Valeria Stefanelli ◽  
Benedetta Coluccia ◽  
Federica De Leo
Keyword(s):  
Climate Change Mitigation ◽  
Self Regulation ◽  
Regulatory System ◽  
Common Criteria ◽  
Sustainable Finance ◽  
Green Investments ◽  
Eu Commission ◽  
Change Mitigation ◽  
The Eu

In international contexts, a key role has been assigned to sustainable finance for the achievement of climate change mitigation objectives. In the context of environmental finance, this contribution focuses on the tool of green bonds, framing the regulators’ perspective and the principles of (self) regulation that describe the process of issuing, evaluating and reporting for the transparency and efficiency of the financial market. The previous studies, in fact, neglected the theme of the rules despite the numerous interventions of the institutions in this field and despite the fact that the theory of market efficiency underlines the crucial role of the rules for the protection of investors and the transparency of the market. In particular, knowing the regulatory framework makes possible to highlight the system of incentives and protections for issuers and investors in the segment of listing and trading of securities. From our analysis, it emerged that the current voluntary regulatory system is still far from ensuring an adequate level of transparency to investors. However, the report published by the EU Commission, containing the proposal to introduce common criteria for the issuance of green bonds in Europe, seems to promote greater protection for the underwriters, leaving more room for the development of green investments. The present study concerns a preliminary analysis, necessary for subsequent investigations aimed at evaluating the convenience of green bonds compared to other segments of bonds listed on the European market.

Improving the Guardrails

2020 ◽  
pp. 191-210
Author(s):  
Michael A. Livermore ◽  
Richard L. Revesz
Keyword(s):  
Cost Benefit Analysis ◽  
Regulatory System ◽  
Cost Benefit ◽  
Regulatory Review ◽  
Regulatory Decision ◽  
Ex Post ◽  
Regulatory Decisions ◽  
Ex Post Analysis ◽  
Trump Administration

Future administration can begin undoing the mistakes of the Trump administration by reinstating prior norms concerning cost-benefit analysis and meaningful regulatory review. Several reforms can go even further and improve the regulatory system. One reform involves rethinking the role of ex-post analysis of regulation, to focus resources on identifying and addressing cross-cutting areas of uncertainty in regulatory decision making. A second area where improvements can be made is improving the quantification of costs and benefits that are currently left unquantified. A third area for improvement involves developing general guidelines for examining and weighing the distributional effects of regulatory decisions.

Hope behind the critique of grand narratives of collective salvation: remarks on ‘The power of metaphors and narratives’

2020 ◽  
pp. 1-8
Author(s):  
Guilherme Vasconcelos Vilaça
Keyword(s):  
Decision Making ◽  
Systems Theory ◽  
Law And Politics ◽  
Jus Cogens ◽  
Situated Approach ◽  
Actual Decision

Abstract Kratochwil criticizes two important teleological global narratives of universal progress – Luhmannian systems theory and jus cogens – and defends the need for a non-ideal and situated approach to law and politics. Despite the cogency of Kratochwil's analysis, why should we place our hope in his pragmatic program given the complexity of actual decision-making? This paper shows that more needs to be said about the role of hope grounding Kratochwil's account. Which hopes are hopeless, and which warranted? Why should we care and ‘go on’, choosing to be prudential and political rather than focusing on one's inner development or pleasure?

scholarly journals FUNCTIONAL ROLE OF IMAGINATION IN THE PROCESSES OF CONSCIOUS SELF-REGULATION: THEORETICAL ANALYSIS

2021 ◽  
pp. 84-93
Author(s):  
T. Titova ◽  
I. Titov
Keyword(s):  
Goal Setting ◽  
Functional Role ◽  
Meaning Making ◽  
Self Regulation ◽  
Regulatory System ◽  
Regulatory Function ◽  
Problem Situation ◽  
Regulatory Processes ◽  
Control Evaluation

The article is devoted to the problem of the functional role of imagination in the processes of conscious self-regulation of personality as a complex integrative phenomenon. The need to consider conscious self-regulation in the context of the resource approach is determined. Conscious self-regulation, manifesting itself in the initiative-creative mode, in the ease and success of mastering new types of purposeful activity, in the ability to solve non-standard tasks, in changing conditions that require changes, etc., associated with the generalized ability to set goals, to model significant external and internal conditions, to program actions, to control and evaluate current and final results, and to adjust the regulatory system. The adequacy of these skills to the requirements of the activity, their flexibility and reliability is largely determined by the functional involvement of the imagination in self-regulatory processes, where it 1) provides goal setting (goal-setting function) and expanding activity’s meaning basis (meaning-making function); 2) participates in modeling and subsequent productive transformation of the figurative content of the problem situation (modeling function); 3) enables reflexive regulation (control, evaluation, correction) by a person of his/her own actions and deeds, which determines the constructive direction of activity (reflexive-regulatory function).

Provider Conflicts of Interest in European Healthcare

2020 ◽  
Author(s):  
Sunčana Roksandić
Keyword(s):  
Conflicts Of Interest ◽  
Self Regulation ◽  
Healthcare Sector ◽  
Physician Patient Relationship ◽  
Council Of Europe ◽  
European Healthcare ◽  
Physician Patient ◽  
The Relationship ◽  
The Eu

This chapter assesses provider conflicts of interest (COIs) in European healthcare. A phenomenon called “bias bias” contributes to COI situations across Europe. Very often throughout Europe, COI is found under explanations of the notion of corruption, as indicated in the EU European Commission's Updated Study on Corruption in the Healthcare Sector. The chapter then examines the special nature of the physician–patient relationship in Europe and the main principles that a physician needs to follow in rendering medical care, including informed consent rules. It also considers the role of law and self-regulation in addressing provider COIs within European healthcare, including medical malpractice and anti-bribery law, both civil and criminal. In spite of common fundamental principles as enshrined in the Council of Europe Convention on Human Rights and Biomedicine, current rules regulating COIs are limited in scope and diverse in many countries across Europe. In addition, when one analyzes the relationship between the pharmaceutical industry and healthcare professionals, it can be concluded that the European legal order regulates this relationship and its COIs through full legislation, partial legislation, or anti-corruption and transparency regulation.

The Nation State’s Legitimation in Post-National Society

Legitimacy ◽  
2019 ◽  
pp. 137-158
Author(s):  
Jiří Přibáň
Keyword(s):  
Systems Theory ◽  
The State ◽  
National Society ◽  
Nation State ◽  
Law And Politics ◽  
Normative Systems ◽  
Politics And Law

This chapter considers the legitimation of the nation state in a post-national world. It employs systems theory, according to which law is one of many normative systems and the state is one of many societal organizations, to make sense of the role of values in the state’s legitimation. It argues that processes of legitimation are constituted by systemic communication between law and politics within and beyond the nation state, communication that involves the internalization of values that are external to these systems. Yet, it stresses, such values are not transcendental foundations; they are instead internally generated expectations that differentiate between legitimacy and illegitimacies in both politics and law.

Sign in / Sign up

Export Citation Format

Share Document