Regulatory philosophy, theory and practice: Ka mua, ka muri

Abstract

Regulation as a practice, profession and discipline has progressed considerably over the last 4,000 years. Modern regulation has shed its image of being a dull, rigid and highly legalistic way to achieve policy outcomes. Today, all around the world, regulators actively experiment with innovative regulatory interventions, often supported by communities and the private sector. This research paper reflects on the long and often remarkable history of regulatory reform to lay out the main regulatory challenges of today, and he explores how they can be best addressed in the future.