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Better Business Regulation in a Risk Society (Hardcover, 2013 ed.)
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Better Business Regulation in a Risk Society (Hardcover, 2013 ed.)
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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.
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