The premise of this volume is that business regulations are expected to grow in the near future as a consequence of the emergence of a “(world) risk society.” Risks related to terrorism, climate change, and financial crises, for example, will penetrate all conditions of life. Increasingly, the decisions and actions of some bring about risks for many in this era of globalization. Controlling these risks implies managing the world through high-quality regulation, with a particular emphasis on businesses and financial institutions. Central to this approach is the argument that a major, if not the primary, aim of regulation is to internalize externalities, or in a broader context, to repair market failure. Such repair can only be accomplished when the costs are smaller than the welfare gains. Featuring contributions from researchers and policy analysts from the fields of economics, management, law, sociology, political science, and environmental policy, this book focuses on three major topics: • Social risks and business regulation • Preconditions for better business regulation • Theoretical issues related to better business regulation Collectively, the authors demonstrate that the easier it is for regulated businesses to comply at the lowest costs possible—without jeopardizing the related public goals—the greater the degree of compliance. When successful, the net result is a balance of individual and collective net benefits, and by further implication, sustainable business practice and economic growth.
The premise of this volume is that business regulations are expected to grow in the near future as a consequence of the emergence of a “(world) risk society.” Risks related to terrorism, climate change, and financial crises, for example, will penetrate all conditions of life. Increasingly, the decisions and actions of some bring about risks for many in this era of globalization. Controlling these risks implies managing the world through high-quality regulation, with a particular emphasis on businesses and financial institutions. Central to this approach is the argument that a major, if not the primary, aim of regulation is to internalize externalities, or in a broader context, to repair market failure. Such repair can only be accomplished when the costs are smaller than the welfare gains. Featuring contributions from researchers and policy analysts from the fields of economics, management, law, sociology, political science, and environmental policy, this book focuses on three major topics: • Social risks and business regulation • Preconditions for better business regulation • Theoretical issues related to better business regulation Collectively, the authors demonstrate that the easier it is for regulated businesses to comply at the lowest costs possible—without jeopardizing the related public goals—the greater the degree of compliance. When successful, the net result is a balance of individual and collective net benefits, and by further implication, sustainable business practice and economic growth.
This book offers a topical inquiry into the legal and political limits of EU regulation in the field of risk and new technologies surrounded by techno-scientific complexity, uncertainty, and societal contestation. It uses agricultural biotechnology as a paradigmatic example to illustrate the complex intertwinement between environmental, public health, economic and social concerns in risk regulation. Weimer analyses the drawbacks of the EU approach to agricultural biotechnology showing that its reductionism, i.e. the narrow understanding of GMO risks as well as the exclusion of broader societal concerns related to environmental and social sustainability, has undermined both the legitimacy and effectiveness of EU regulation in this area. Resistance to this approach however has also triggered legal innovations prompting us to re-think EU internal market law, including the way in which it manages the tensions between unity and diversity, and between social and economic concerns. This text offers fresh and original insights into how far the EU can go in harmonizing regulatory approaches to risk. At the same time, it proposes new ways of re-thinking EU risk regulation to make it more responsive to different perspectives on risk and technology. A unique feature of this book is that it contributes to various strains of scholarship including risk regulation, internal market law, public administration, and studies of governance and regulation, as well as connecting these themes to broader debates about the legitimacy of European integration and new ways of differentiated integration. As a result it assists in re-imagining the EU internal market and its regulation as a site of diversity.
This book takes a completely new and innovative approach to analysing the development of EU law. Within the framework of different important areas of EU law, such as the internal market, consumer protection law, social law, investment law, environment law, migration law, legal translation and terminology, it examines the Union’s approach to the regulation and management of legal risks. Over the years, the Union has come to a point where it is becoming increasingly difficult to justify its authority to regulate in various areas of law. In managing legal risks deriving from the diversity of Member States’ laws, which create barriers to trade and hinder the Union’s economy, the Union itself has actually produced new legal risks that now have to be addressed. This failure on the part of EU institutions to manage legal risks has contributed to legal uncertainty for actors operating on the internal market. This book intends to contribute to the Union’s smoother functioning and continuing development by proposing effective concrete solutions for managing the legal risks distorting the development of various areas of EU law. It pursues an innovative and effective approach to identify legal risks, their causes at the EU level and their impacts on the functioning of the Union and its Member States. By presenting new approaches in this context, the first book on legal risk management in the EU will actively promote the improvement of the EU lawmaking process and the application of EU law in practice.
This book investigates the role of law in confronting major societal transformations embodied by the emergence of nanotechnologies. Taking the case of the European Union, it explores who the key decision-makers in the regulation of nanotechnologies are and how they take decisions. The questions are explored through two distinct case studies: the food and chemicals sectors. The book charts an incremental retreat of the European Union to its executive powers, including 'soft law' measures such as agencies' guidelines or implementing measures. This, the author argues, results in the Union's fundamental democratic control mechanisms, the EU legislature and the Court of Justice of the EU, being circumvented. The book recommends several immediate proposals to reform EU risk regulation, advocating a greater reliance on the European Parliament and outlining measures to increase the transparency of guidance drafting by EU agencies. This important work provides a timely examination of how emerging technologies pose both regulatory and democratic challenges.
An analysis of the condition of Western societies that will take its place as a core text of contemporary sociology alongside earlier typifications of society as postindustrial, and current debates about the social dimensions of the postmodern
Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
A roadmap to improve corporate social responsibility The 2016 U.S. Presidential Campaign focused a good deal of attention on the role of corporations in society, from both sides of the aisle. In the lead up to the election, big companies were accused of profiteering, plundering the environment, and ignoring (even exacerbating) societal ills ranging from illiteracy and discrimination to obesity and opioid addiction. Income inequality was laid squarely at the feet of us companies. The Trump administration then moved swiftly to scrap fiscal, social, and environmental rules that purportedly hobble business, to redirect or shut down cabinet offices historically protecting the public good, and to roll back clean power, consumer protection, living wage, healthy eating initiatives and even basic public funding for public schools. To many eyes, and the lens of history, this may usher in a new era of cowboy capitalism with big companies, unfettered by regulation and encouraged by the presidential bully pulpit, free to go about the business of making money—no matter the consequences to consumers and the commonwealth. While this may please some companies in the short term, the long term consequences might result in just the opposite. And while the new administration promises to reduce "foreign aid" and the social safety net, Stanley S. Litow believes big companies will be motivated to step up their efforts to create jobs, reduce poverty, improve education and health, and address climate change issues — both domestically and around the world. For some leaders in the private sector this is not a matter of public relations or charity. It is integral to their corporate strategy—resulting in creating new markets, reducing risks, attracting and retaining top talent, and generating growth and realizing opportunities. Through case studies (many of which the author spearheaded at IBM), The Challenge for Business and Society provides clear guidance for companies to build their own corporate sustainability and social responsibility plans positively effecting their bottom lines producing real return on their investments. This book will help: • Create an effective corporate social responsibility and sustainability plan • Provide long-term bottom line benefit • Protect and enrich brand value • Recruit and retain top talent Perfect for CEOs, CFOs, Human Resource/Corporate Affairs executives, but also for government and not-for-profit leaders, this book helps you come up with a solid plan for giving back to society, producing real sustainable value.
In this sprawling and ambitious book John Braithwaite successfully manages to link the contemporary dynamics of macro political economy to the dynamics of citizen engagement and organisational activism at the micro intestacies of governance practices. This is no mean feat and the logic works. . . Stephen Bell, The Australian Journal of Public Administration Everyone who is puzzled by modern regulocracy should read this book. Short and incisive, it represents the culmination of over twenty years work on the subject. It offers us a perceptive and wide-ranging perspective on the global development of regulatory capitalism and an important analysis of points of leverage for democrats and reformers. Christopher Hood, All Souls College, Oxford, UK It takes a great mind to produce a book that is indispensable for beginners and experts, theorists and policymakers alike. With characteristic clarity, admirable brevity, and his inimitable mix of description and prescription, John Braithwaite explains how corporations and states regulate each other in the complex global system dubbed regulatory capitalism. For Braithwaite aficionados, Regulatory Capitalism brings into focus the big picture created from years of meticulous research. For Braithwaite novices, it is a reading guide that cannot fail to inspire them to learn more. Carol A. Heimer, Northwestern University, US Reading Regulatory Capitalism is like opening your eyes. John Braithwaite brings together law, politics, and economics to give us a map and a vocabulary for the world we actually see all around us. He weaves together elements of over a decade of scholarship on the nature of the state, regulation, industrial organization, and intellectual property in an elegant, readable, and indispensable volume. Anne-Marie Slaughter, Princeton University, US Encyclopedic in scope, chock full of provocative even jarring claims, Regulatory Capitalism shows John Braithwaite at his transcendental best. Ian Ayres, Yale Law School, Yale University, US Contemporary societies have more vibrant markets than past ones. Yet they are more heavily populated by private and public regulators. This book explores the features of such a regulatory capitalism, its tendencies to be cyclically crisis-ridden, ritualistic and governed through networks. New ways of thinking about resultant policy challenges are developed. At the heart of this latest work by John Braithwaite lies the insight by David Levi-Faur and Jacint Jordana that the welfare state was succeeded in the 1970s by regulatory capitalism. The book argues that this has produced stronger markets, public regulation, private regulation and hybrid private/public regulation as well as new challenges such as a more cyclical quality to crises of market and governance failure, regulatory ritualism and markets in vice. However, regulatory capitalism also creates opportunities for better design of markets in virtue such as markets in continuous improvement, privatized enforcement of regulation, open source business models, regulatory pyramids with networked escalation and meta-governance of justice. Regulatory Capitalism will be warmly welcomed by regulatory scholars in political science, sociology, history, economics, business schools and law schools as well as regulatory bureaucrats, policy thinkers in government and law and society scholars.
Risk society and beyond traces the evolution of Ulrich Beck's ideas as expressed in Risk Society (1992) and expands into previously unforeseen risk areas, such as genetics and cyberspace.
