Business Regulation

Edited by Edward J. Balleisen, Associate Professor of History and Public Policy and Vice Provost for Interdisciplinary Studies, Duke University, US

‘Edward Balleisen’s collection covers, for the first time, some of the most outstanding scholarly works on business regulation. It offers compelling testimony to the importance of historical perspective on the issue of business regulation, and to the best of my knowledge the most comprehensive and impressive scholarly effort of this sort that is currently available anywhere.’

• Volume 1Contents:AcknowledgementsIntroduction Edward J. BalleisenPART IVARIETIES OF REGULATORY PURPOSE: CONSTITUTING MARKETS AND THE SEARCH FOR GROWTH AProperty Rights, Organizational Forms and the Structuring of Markets1. Thomas M. Cooley (1884), ‘Labor and Capital Before the Law’2. Henry Crosby Emery (1895), ‘Legislation Against Futures’3. John Spargo (1909), ‘Private Property and Personal Liberty in the Socialist State’4. J.P. Goodrich (1915), ‘The Public Welfare and the Holding Company’B Boundaries, Harmonization and the Creation of Common Markets5. Walter C. Noyes (1907), ‘Development of the Commerce Clause of the Constitution’6. P.A. Wadia (1924), ‘The True Basis of Protection for India’7. Harland Bartholomew (1925), ‘The Prevention of Economic Waste by City Planning’8. F.F. Elliot (1945), ‘A Proposed World Trade Board for Expanding International Trade’C Encouraging Capital Investment and Creating Network Efficiencies9. Samuel Insull (1915), ‘Standardization, Cost System of Rates, and Public Control’10. H. Bruce Price (1921), ‘Grain Standardization’PART IIVARIETIES OF REGULATORY PURPOSE: THE SEARCH FOR FAIRNESS, STABILITY, AND SUSTAINABILITY A The Problem of Monopoly / Cartels11. Arthur T. Hadley (1886), ‘Private Monopolies and Public Rights’12. Louis D. Brandeis (1913), ‘Cutthroat Prices: The Competition That Kills’13. Rexford G. Tugwell (1921), ‘The Economic Basis for Business Regulation’14. Julius Klein (1928), ‘International Cartels’BThe Problem of Market Instability15. Mortimer J. Fox, Jr. (1936), ‘Deposit Insurance as an Influence for Stabilizing the Banking Structure’16. M.R. Benedict (1936), ‘Production Control in Agriculture and Industry’CThe Problem of Managing Common Resources17. Henry S. Graves (1923), ‘Public Welfare in Regard to the Conservation of Natural Resources’PART IIIREGULATORY RATIONALES: THE ETHOS OF SOCIAL PROTECTION AThe Defence of Public Morals18. Henry Colman (1909), ‘Prohibition and Public Morals’BThe Problem of Negative Externalities19. John Kershaw (1908), ‘The Smoke Problem in Large Cities’CThe Logic of Protection (Workers, Children, Consumers, Investors)20. Mrs. Glendower Evans (1915), ‘The Social Aspects of the Public Regulation of Wages’21. Robert L. Hale (1923), ‘Coercion and Distribution in a Supposedly Non-Coercive State’22. Edwin Chadwick (1881), ‘Employers’ Liability for Accidents to Workpeople’23. Jane Addams (1907), ‘National Protection for Children’24. Martin I. Wilbert (1914), ‘Pure Drugs and the Public Health’25. Rolf Nugent and Leon Henderson (1934), ‘Instalment Selling and the Consumer: A Brief for Regulation’26. Leland J. Gordon (1939), ‘Protection of the Consumer’27. Theodore W. Glocker (1939), ‘Protecting Investors in Securities’DThe Imperative of Non-Discrimination28. Carey McWilliams (1945), ‘Race Discrimination and the Law’PART IVINVENTING MODERN REGULATORY GOVERNANCE: TECHNOCRATIC STRATEGIES OF INSTITUTIONAL DESIGNAThe Allure of Technocratic Expertise29. Elisha Harris (1878), ‘The Public Health’30. Edward B. Rosa (1913), ‘The Function of Research in the Regulation of Natural Monopolies’BThe Necessity of Publicity31. Henry C. Adams (1902), ‘What is Publicity?’CNational Market, National Jurisdiction32. Henry R. Seager (1912), ‘Labor Legislation A National Social Need’DThe Logic of the Independent Regulatory Commission33. Charles F. Adams, Jr. (1871), ‘The Government and the Railroad Corporations’34. Samuel O. Dunn (1914), ‘Regulation by Commission’ECoping with Legal Constraints35. Ernst Freund (1914), ‘The Police Power’36. Felix Frankfurter (1927), ‘The Task of Administrative Law’37. James M. Landis (1938), ‘Administrative Policies and the Courts’FThe Imperative of Democratic Participation38. Avery Leiserson (1942), ‘Interest Representation in Administrative Regulation’GReshaping Environment Rather Than Behaviour39. David M. Boodman (1968), ‘Safety and Systems Analysis, with Applications to Traffic Safety’PART VINVENTING MODERN REGULATORY GOVERNANCE: AN EXPANDING RANGE OF POLICY INSTRUMENTS ARules for Land-Use40. W.A. Rowlands (1933), ‘County Zoning for Agriculture, Forestry, and Recreation in Wisconsin’BPrice Setting / Supply Constraints41. Simon G. Hanson (1936), ‘Argentine Experience with Farm Relief Measures’42. J.K. Galbraith (1943), ‘Price Control: Some Lessons from the First Phase’CMechanisms of Sectoral Self-Regulation43. Robert Riegel (1927), ‘The Regulation of Fire Insurance Rates’DMechanisms of Antitrust44. Thurman Arnold (1940), ‘Antitrust Law Enforcement, Past and Future’EDisclosure Requirements45. William Z. Ripley (1932), ‘Public Utilities Insecurities’FQuality Certification46. Samuel Hopkins Adams (1908), ‘The Solving of the Milk Problem: How Copenhagen has Established the Feasibility of a Pure and Heathful Supply’GApproval Regulation47. Ralph G. Smith (1956), ‘Assuring the Safety of New Drugs’HMacro-Systematic Stability Regulation48. John R. Commons (1925), ‘The Stabilization of Prices and Business’PART VICRITIQUES OF MODERN REGULATORY GOVERNANCE AThe Assault on Individual Freedom49. Herbert Spencer (1884), ‘The Coming Slavery’BConflicts with the Rule of Law50. Friedrich A. Hayek (1960), ‘Economic Policy and the Rule of Law’CThe Problem of Democratic Legitimacy51. Harold W. Dodds (1937), ‘Bureaucracy and Representative Government’DThe Economic Theory of Regulation: Capture and Unjust Rent Creation52. Oskar Morgenstern (1939), ‘The Experience with Public Regulation and Public Monopoly Abroad’53. George J. Stigler (1971), ‘The Theory of Economic Regulation’54. Mark Green and Ralph Nader (1973), ‘Economic Regulation vs. Competition: Uncle Sam the Monopoly Man’EThe Problems of Regulatory Complexity and Inflexibility55. J.M. Clark (1913), ‘Frontiers of Regulation and What Lies Beyond’56. Samuel P. Huntington (1952), ‘The Marasmus of the ICC: The Commission, the Railroads, and the Public Interest’Volume 2Contents:AcknowledgementsAn Introduction to all three volumes by the editors appears in Volume IPART ITHE REGULATORY BASIS OF POST-WORLD WAR II CONTINENTAL AND GLOBAL INTEGRATION ARegulation and the Making of Continental / Global Markets1. Neil Fligstein and Alec Stone Sweet (2002), ‘Constructing Polities and Markets: An Institutionalist Account of European Integration’2. Tim Büthe and Walter Mattli (2010), ‘Standards for Global Markets: Domestic and International Institutions’BThe Regulatory Challenges and Opportunities of Globalization3. Philip G. Cerny (1994), ‘The Dynamics of Financial Globalization: Technology, Market Structure, and Policy Response’4. Steven K. Vogel (1997), ‘International Games with National Rules: How Regulation Shapes Competition in “Global” Markets’5. John Braithwaite and Peter Drahos (1999), ‘Ratcheting Up and Driving Down Global Regulatory Standards’PART IIPOST-1975 REGULATORY REFORM: PRIVATIZATION, DEREGULATION, DELEGATION AThe Regulatory Implications of Privatization6. Giandomenico Majone (1994), ‘The Rise of the Regulatory State in Europe’BThe Dynamics of Deregulation7. Alfred E. Kahn (1979), ‘Applications of Economics to an Imperfect World’8. Robert B. Horwitz (1986), ‘Understanding Deregulation’CThe Rediscovery of Business Self-Regulation9. Wolfgang Streeck and Philippe Schmitter (1985), ‘Community, Market, State—and Associations? The Prospective Contribution of Interest Governance to Social Order’10. Cary Coglianese and David Lazer (2002), ‘Management-Based Regulatory Strategies’11. Elinor Ostrom (1999), ‘Polycentricity, Complexity, and the Commons’DThe Elaboration of Responsive Regulation12. Neil Gunningham (2011), ‘Strategizing Compliance and Enforcement: Responsive Regulation and Beyond’EThe Promise of Mass Torts13.William M. Landes and Richard A. Posner (1984), ‘Tort Law as a Regulatory Regime for Catastrophic Personal Injuries’PART IIIPOST-1975 REGULATORY REFORM: MECHANISMS OF RISK ASSESSMENT AND THE HARNESSING OF MARKET FORCES ARisk Assessment and Risk Management14. Edwin L. Johnson (1982), ‘Risk Assessment in an Administrative Agency’15. Nicholas A. Ashford (1988), ‘Science and Values in the Regulatory Process’16. Baruch Fischhoff, Paul Slovic and Sarah Lichtenstein (1982), ‘Lay Foibles and Expert Fables in Judgements About Risk’17. Richard J. Zeckhauser and W. Kip Viscusi (1996), ‘The Risk Management Dilemma’18. Frank Ackerman and Lisa Heinzerling (2002), ‘Pricing the Priceless: Cost-Benefit Analysis of Environmental Protection’BThe Invention of Cap and Trade19. W. David Montgomery (1972), ‘Markets in Licenses and Efficient Pollution Control Programs’20. Bruce A. Ackerman and Richard B. Stewart (1988), ‘Reforming Environmental Law: The Democratic Case for Market Incentives’PART IVPOST-1975 REGULATORY REFORM: MECHANISMS OF META-REGULATION AJudicial Meta-Regulation21. Robert B. Horwitz (1994), ‘Judicial Review of Regulatory Decisions: The Changing Criteria’22.R. Daniel Kelemen (2006), ‘Suing for Europe: Adversarial Legalism and European Governance’, Comparative Political Studies, 39 (1), February, 101–27[27]BExecutive Meta-Regulation23. Jonathan B. Wiener (2013), ‘The Diffusion of Regulatory Oversight’PART VPOST-1975 REGULATORY REFORM: RETHINKING STRATEGIES OF INSTITUTIONAL DESIGN A“Tripartism” as Check on Regulatory Capture24. Richard C. Leone (1972), ‘Public Interest Advocacy and the Regulatory Process’BThe Insistence on Attention to Fairness25. Rawi Abdelal and John G. Ruggie (2009), ‘The Principles of Embedded Liberalism: Social Legitimacy and Global Capitalism’CMarket Ecology / Market Architecture26. Marc Schneiberg and Tim Bartley (2010), ‘Regulating or Redesigning Finance? Market Architectures, Normal Accidents, and Dilemmas of Regulatory Reform’DForcing Technological Innovation27. Michael E. Porter and Claas van der Linde (1995), ‘Toward a New Conception of the Environment-Competitiveness Relationship’ESocial Cooperation and Principles of Regulatory Design28. Yochai Benkler (2009), ‘From Greenspan’s Despair to Obama’s Hope: The Scientific Bases of Cooperation as Principles of Regulation’FCognitive Psychology and Principles of Regulatory Design29. Michael S. Barr, Sendhil Mullainathan and Eldar Shafir (2009), ‘The Case for Behaviorally Informed Regulation’GIntegrated Approaches to Risk Management30. Tom Baker and David Moss (2009), ‘Government as Risk Manager’ HExperimental Regulatory Governance31. Charles F. Sabel and Jonathan Zeitlin (2010), ‘Learning the Difference: The New Architecture of Experimentalist Governance in the European Union’Volume 3Contents:AcknowledgementsAn Introduction to all three volumes by the editors appears in Volume IPART IBUSINESS REGULATION IN ACTION: THE LENS OF ETHNOGRAPHY AEthnography of Regulatory Institutions1. Keith Hawkins (1984), ‘Creating Cases in a Regulatory Agency’BEthnography of Business Responses to Regulation2. John Braithwaite (1993), ‘Transnational Regulation of the Pharmaceutical Industry’3. Robert A. Kagan, Neil Gunningham and Dorothy Thornton (2011), ‘Fear, Duty, and Regulatory Compliance: Lessons from Three Research Projects’CEthnography of Third Party Actors4. Edward J. Balleisen (2009), ‘Private Cops on the Fraud Beat: The Limits of American Business Self-Regulation, 1895–1932’PART IIBUSINESS REGULATION IN ACTION: THE LENS OF SOCIETAL COMPARISON 5. Kazumasu Aoki and John W. Cioffi (1999), ‘Poles Apart: Industrial Waste Management Regulation and Enforcement in the United States and Japan’6. David Vogel (2003), ‘The Hare and the Tortoise Revisited: The New Politics of Consumer and Environmental Regulation in Europe’7. Jonathan B. Wiener and Michael D. Rogers (2002), ‘Comparing Precaution in the United States and Europe’PART IIIBUSINESS REGULATION IN ACTION: EVALUATING REGULATORY OUTCOMES AQuantitative Analysis8. Harvey Averch and Leland L. Johnson (1962), ‘Behavior of the Firm Under Regulatory Constraint’9. Scott J. Wallsten (2001), ‘An Econometric Analysis of Telecom Competition, Privatization, and Regulation in Africa and Latin America’10. W. Kip Viscusi and Ted Gayer (2002), ‘Safety at Any Price?’BQualitative and Mixed Approaches11. David Weil, Archon Fung, Mary Graham and Elena Fagotto (2006), ‘The Effectiveness of Regulatory Disclosure Policies’12. Frank Dobbin and John R. Sutton (1998), ‘The Strength of a Weak State: The Rights Revolution and the Rise of Human Resources Management Divisions’13. Margaret R. Taylor, Edward S. Rubin and David A. Hounshell (2005), ‘Regulation as the Mother of Innovation: The Case of SO2 Control’14. Allen Blackman and Nicholas Sisto (2006), ‘Voluntary Environmental Regulation in Developing Countries: A Mexican Case Study’15. Christine Parker (1999), ‘Compliance Professionalism and Regulatory Community: The Australian Trade Practices Regime’PART IVPATHWAYS OF REGULATORY CHANGE: INTERESTS AND IDEAS AShifting Constellations of Interests16. Lawrence M. Friedman and Jack Ladinsky (1967), ‘Social Change and the Law of Industrial Accidents’BShifts in Scientific Knowledge17. Sheila Jasanoff (1992), ‘Science, Politics, and the Renegotiation of Expertise at EPA’18. Jean-Paul Gaudillière (2006), ‘Globalization and Regulation of the Biotech World: The Transatlantic Debates over Cancer Genes and Genetically Modified Crops’CNew Social Science Ideas19. Marc Allen Eisner (1990), ‘Institutional History and Policy Change: Exploring the Origins of the New Antitrust’PART VPATHWAYS OF REGULATORY CHANGE: CRISES, SOCIAL MOVEMENTS, POLICY ENTREPRENEURS AND POLICY LEARNING ACrises20. Peter Temin (1985), ‘Government Actions in Times of Crisis: Lessons from the History of Drug Regulation’21. Thomas A. Birkland (1998), ‘Focusing Events, Mobilization, and Agenda Setting’BSocial Movements and Narrative Framing22. Tim Bartley (2003), ‘Certifying Forests and Factories: States, Social Movements, and the Rise of Private Regulation in the Apparel and Forest Products Fields’23. Susan K. Sell and Aseem Prakash (2004), ‘Using Ideas Strategically: The Contest Between Business and NGO Networks in Intellectual Property Rights’CRegulatory Entrepreneurs, Networks, and Policy Learning24. Wilson D. Miscamble (1982), ‘Thurman Arnold Goes to Washington: A Look at Antitrust Policy in the Later New Deal’25. Paul A. Sabatier (1988), ‘An Advocacy Coalition Framework of Policy Change and the Role of Policy-Oriented Learning Therein’26. David Levi-Faur (2005), ‘The Global Diffusion of Regulatory Capitalism’PART VIPATHWAYS OF REGULATORY CHANGE: ORGANIZATIONAL AND LEGAL CULTURE 27. Frank Uekoetter (1999), ‘Divergent Responses to Identical Problems: Businessmen and the Smoke Nuisance in Germany and the United States, 1880–1917’28. Daniel R. Ernst (2009), ‘The Politics of Administrative Law: New York’s Anti-Bureaucracy Clause and the O’Brian-Wagner Campaign of 1938’Index