Definition
Regulations implement statutes and address safety, competition, environment, finance, labor, and other areas.
Political Dictionary
Regulation
Regulation is a government rule governing conduct, markets, products, or institutions.
Why It Matters
They can correct market failures and protect the public, while also imposing compliance costs.
How It Works
Agencies issue rules under delegated authority, often through notice-and-comment procedures.
History
Regulatory government expanded with industrialization and administrative agencies.
Example
A safety agency may require manufacturers to meet product standards.
Common Misconceptions
- Regulations are statutes passed directly by voters.
- Agencies may regulate without legal authority.
- All regulation reduces economic growth.
Related Terms
- Deregulation
- Administrative Law
- Rulemaking
- Agency
- Compliance
Related Topics
See Also