Regulatory Breakdown: The Crisis of Confidence in U.S. Regulation

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Regulatory Breakdown

The Crisis of Confidence in U.S. Regulation

Edited by: Cary Coglianese

Language: English

Published/Copyright: 2012

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About this book

Regulatory Breakdown: The Crisis of Confidence in U.S. Regulation brings fresh insight and analytic rigor to what has become one of the most contested domains of American domestic politics. Critics from the left blame lax regulation for the housing meltdown and financial crisis—not to mention major public health disasters ranging from the Gulf Coast oil spill to the Upper Big Branch Mine explosion. At the same time, critics on the right disparage an excessively strict and costly regulatory system for hampering economic recovery. With such polarized accounts of regulation and its performance, the nation needs now more than ever the kind of dispassionate, rigorous scholarship found in this book.

With chapters written by some of the nation's foremost economists, political scientists, and legal scholars, Regulatory Breakdown brings clarity to the heated debate over regulation by dissecting the disparate causes of the current crisis as well as analyzing promising solutions to what ails the U.S. regulatory system. This volume shows policymakers, researchers, and the public why they need to question conventional wisdom about regulation—whether from the left or the right—and demonstrates the value of undertaking systematic analysis before adopting policy reforms in the wake of disaster.

Author / Editor information

Cary Coglianese is Edward B. Shils Professor of Law at the University of Pennsylvania, director of the Penn Program on Regulation, and coeditor of Import Safety: Regulatory Governance in the Global Economy, also available from the University of Pennsylvania Press.

Reviews

"Everybody talks about regulatory failure, but no one does much about it. This book investigates claims of regulatory breakdown in the United States and provides helpful clues as to what might be done." --- "In the wake of the 2008 financial meltdown and the Gulf of Mexico oil spill, Regulatory Breakdown addresses two vital questions: Why do catastrophic failures occur? What are the appropriate regulatory responses? Invaluable perspective on these thorny issues is provided by the fascinating and rigorous case studies and analyses in this insight-filled volume."

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Publicly Available

Frontmatter
i

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Contents
v

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Preface
vii

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Chapter 1. Oversight in Hindsight
1
Christopher Carrigan and Cary Coglianese

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Chapter 2. Addressing Catastrophic Risks
21
W. Kip Viscusi and Richard Zeckhauser

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Chapter 3. Beyond Belts and Suspenders
49
Lori S. Bennear

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Chapter 4. Regulation or Nationalization?
68
Adam J. Levitin and Susan M. Wachter

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Chapter 5. Regulating in the Dark
86
Roberta Romano

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Chapter 6. Partisan Media and Attitude Polarization
118
Matthew A. Baum

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Chapter 7. Citizens’ Perceptions and the Disconnect Between Economics and Regulatory Policy
143
Jonathan Baron, William T. McEnroe and Christopher Poliquin

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Chapter 8. Delay in Notice and Comment Rulemaking
163
Jason Webb Yackee and Susan Webb Yackee

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Chapter 9. The Policy Impact of Public Advice
180
Susan L. Moffitt

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Chapter 10. Reforming Securities Law Enforcement
200
William W. Bratton and Michael L. Wachter

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Chapter 11. Why Aren’t Regulation and Litigation Substitutes?
227
Eric Helland and Jonathan Klick

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Chapter 12. Failure by Obsolescence
245
Theodore W. Ruger

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Contributors
259

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Index
265

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Acknowledgments
275

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Publishing information

Pages and Images/Illustrations in book

eBook published on:

August 16, 2012

eBook ISBN:

9780812207491

Pages and Images/Illustrations in book

Main content:

288

https://doi.org/10.9783/9780812207491

eBook ISBN: 9780812207491

Keywords for this book

Public Policy; Law; Political Science

Audience(s) for this book

For universities and colleges of further and higher education

Regulatory Breakdown

Overview

About this book

Author / Editor information

Reviews

Topics

Table of contents

Frontmatter

Contents

Preface

Chapter 1. Oversight in Hindsight

Chapter 2. Addressing Catastrophic Risks

Chapter 3. Beyond Belts and Suspenders

Chapter 4. Regulation or Nationalization?

Chapter 5. Regulating in the Dark

Chapter 6. Partisan Media and Attitude Polarization

Chapter 7. Citizens’ Perceptions and the Disconnect Between Economics and Regulatory Policy

Chapter 8. Delay in Notice and Comment Rulemaking

Chapter 9. The Policy Impact of Public Advice

Chapter 10. Reforming Securities Law Enforcement

Chapter 11. Why Aren’t Regulation and Litigation Substitutes?

Chapter 12. Failure by Obsolescence

Contributors

Index

Acknowledgments

Bibliographic data