Article

Regulatory Rationales Beyond the Economic: In Search of the Public Interest

Mike Feintuck

in The Oxford Handbook of Regulation

Published in print September 2010 | ISBN: 9780199560219
Published online September 2010 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199560219.003.0003

Series: Oxford Handbooks in Business and Management

Regulatory Rationales Beyond the Economic: In Search of the Public Interest

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This article contends that regulation in certain fields should incorporate and give emphasis to values beyond those of market economics. It is argued here that the frame of reference of the market is too narrow to encompass properly a range of social and political values which are established in liberal democracies and can be seen as constitutional in nature. Examples from fields such as environmental regulation and regulation of the media are used here to illustrate a range of non-economic values which have been, are, or should be reflected in regulatory theory and practice as a means of recognising and reflecting principles related to social justice. Such principles extend beyond, and may be antithetical to the practices, values, and outcomes of market-driven decision-making.

Keywords: regulation; social justice; practices; values; market-driven decision-making

Article.  11414 words. 

Subjects: Business and Management ; Business Strategy ; Business Ethics

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