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Regulatory economics is the application of law by government or regulatory agencies for various economics-related purposes, including remedying market failure, protecting the environment and economic management.
Regulation can facilitate, maintain, or imitate markets. [3] Public interest theory is a part of welfare economics. It emphasizes that regulation should maximize social welfare and that regulation should follow a cost/benefit analysis to determine whether the increased social welfare outweighs the regulatory cost.
Regulation in the social, political, psychological, and economic domains can take many forms: legal restrictions promulgated by a government authority, contractual obligations (for example, contracts between insurers and their insureds [1]), self-regulation in psychology, social regulation (e.g. norms), co-regulation, third-party regulation, certification, accreditation or market regulation.
Economic progressivism or fiscal progressivism is a political and economic philosophy incorporating the socioeconomic principles of social democrats and political progressives. These views are often rooted in the concept of social justice and have the goal of improving the human condition through government regulation , social protections and ...
The Universal Declaration on Human Rights (UDHR), adopted by the UN General Assembly in 1948, is one of the most important sources of economic, social and cultural rights. . It recognizes the right to social security in Article 22, the right to work in Article 23, the right to rest and leisure in Article 24, the right to an adequate standard of living in Article 25, the right to education in ...
Social rule system theory is an attempt to formally approach different kinds of social rule systems in a unified manner. Social rules systems include institutions such as norms, laws, regulations, taboos, customs, and a variety of related concepts and are important in the social sciences and humanities.
The social market economy (SOME; German: soziale Marktwirtschaft), also called Rhine capitalism, Rhine-Alpine capitalism, the Rhenish model, and social capitalism, [1] is a socioeconomic model combining a free-market capitalist economic system alongside social policies and enough regulation to establish both fair competition within the market and generally a welfare state.
Modern social democracy seeks to contain capitalism through transitioning unstable private sector enterprises into public ownership, correcting economic and social inequality through social safety nets and services, sometimes referred to as welfare state policies, and more aggressive regulation of markets and private enterprise than other forms ...