Read e-book online Taming the Regulatory State: Politics and Ethics PDF

By Noralv Veggeland

ISBN-10: 1848444230

ISBN-13: 9781848444232

"Taming the Regulatory country" inclusively analyses the regulatory top-down regimes which are now having their day of dominance. This booklet deals an account of the inherent vulnerability of the regulatory country. The implementation of regulations has been taken over through technocratic, 'unelected' actors, and the most important political and moral matters are usually neglected during this regulatory governance paradigm. One amazing case that exposes those underlying tensions is the task of the state-run overseas funding money. The publication units the Norwegian Pension Fund - international (formerly the Norwegian Petroleum Fund) into this context and exhibits how the try and control via moral instructions is an illuminating instance of an attempt, besides the fact that imperfect, to restore ethics.

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Example text

Supply-side economics also recommended global free trade as a way of benefiting competition (Bratton et al. 1996). In the Anglo-Saxon countries during the 1980s, the unemployment rate fell to an acceptable level through different workfare initiatives and a so-called high-consumption unemployment policy, proposing work sharing, low-wage jobs and early retirement (OECD 2005). The European Continental states introduced limited regulatory-state principles but adopted the monetarist instruments for the regulation of inflation.

His focus had been on enterprises, which ‘created new combinations’, and ‘entrepreneurs’ who created and founded new activities; these were source of innovations. What was desirable was the establishment of channels for their energy but regardless of their ethical attitude. This focus went against Keynesian theory. For Keynes, stable production and aggregate demand were central concerns, and the state was responsible for this stability. The Schumpeterian critique against Keynesian theory, which called for state intervention and top-down rational planning, was that in the longer term the economy would lose the potential to grow and would suffer from structural crises, resulting from a lack of renewal and necessary innovations and clusters of innovations (Porter 1998).

Investment, in a Keynesian sense, is a strategy to increase the effective demand in the economy. 3.

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Taming the Regulatory State: Politics and Ethics by Noralv Veggeland

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