By Bronwen Morgan, Karen Yeung
Lately, legislation has emerged as essentially the most exact and critical fields of research within the social sciences, either for policy-makers and for students who require a theoretical framework that may be utilized to any social region. This well timed textbook offers a conceptual map of the sphere and an available and important advent to the topic. Morgan and Yeung set out a various and stimulating number of fabrics and provides them context with a finished and important observation. through adopting an interdisciplinary procedure and emphasising the function of legislation in its broader social and political context, will probably be a useful device for the scholar coming to legislation for the 1st time. This basically dependent, academically rigorous name, with a contextualised point of view, is key analyzing for all scholars of the topic.
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Extra info for An Introduction to Law and Regulation: Text and Materials (Law in Context)
What we have hitherto considered as externalities are ‘technological’ externalities: they are harmful or beneficial effects on one party’s productive activity or utility directly resulting from another party’s behaviour. ‘Pecuniary’ externalities, on the other hand, are pure value (financial) changes borne by their parties which result from changes in technology or in consumer preferences. They involve indirect effects which alter the demand faced by the harmed or benefited third party. Pecuniary externalities are the result of the natural play of market forces.
It is not at all clear that it is efficient to allow the creation of cartels among workers, even if it is in the interest of those thus authorised; and this latter point is not entirely clear in light of the fact that (for example) the minimum wage increases unemployment. Regulation is often an attempt to redistribute resources to certain groups. Health and safety regulation is sometimes justified as a means of transferring resources to workers and consumers at the expense of employers and producers, whether or not there is a collective action problem.
Rothstein, H. and Baldwin, R. 2001. The Government of Risk, Oxford: Oxford University Press. Morgan, B. 2003. Social Citizenship in the Shadow of Competition, Law, Power and Justice Series, Aldershot: Ashgate. Ogus, A. 2004. Regulation: Legal Form and Economic Theory, Oxford: Hart Publishing. Renn, O. 1998. ‘Three decades of risk research: Accomplishments and new challenges’, Journal of Risk Research 1: 49À71. Suggested further reading Silbey, S. 1997. ‘Let them eat cake’: Globalisation, postmodern colonialism, and the possibilities of justice’, Law and Society Review 31: 207À235.
An Introduction to Law and Regulation: Text and Materials (Law in Context) by Bronwen Morgan, Karen Yeung