Revolutionizing Regulation: Embracing Smarter Forms for a Sustainable Future
The article discusses different ways we regulate the environment, starting with traditional command and control methods. It then explores dissatisfaction with this approach and looks at market-based, self-regulation, and information-based methods. The chapter also covers responsive regulation and risk-based approaches. Overall, there is a call for smarter forms of regulation that mix different approaches. The article concludes that there is ongoing dissatisfaction with regulation due to a lack of understanding of what causes regulatory performance issues.