The Pros and Cons of Government Regulation

Regulation of human behaviour and human social interaction is a universal feature of both traditional and modern societies. In the latter, on account of their complex structure, regulation inevitably takes place at different levels, albeit within a framework set by government. Consequently, these societies are characterised by a web of formal as well as informal regulation and self‐regulation, in other words by a plurality of regulatory systems. And this plurality of regulatory systems is an important source of tensions and conflicts in society.