Regulation (journal)

Regulation (journal). Regulation is a quarterly public policy journal published by the Cato Institute, a libertarian think tank based in Washington, D.C.. Founded in 1977, the journal focuses on the analysis of government regulation from a perspective rooted in law and economics and classical liberalism. It features articles, essays, and reviews that critically examine the costs, benefits, and unintended consequences of regulatory policies across various sectors of the American economy.

History and background

The journal was established in 1977 during a period of significant expansion in the federal regulatory state, following major legislative acts like the Clean Air Act and the creation of agencies such as the Environmental Protection Agency and the Occupational Safety and Health Administration. Its founding was part of a broader intellectual movement, championed by scholars like Milton Friedman and George Stigler, that applied economic analysis to the study of government intervention. The Cato Institute, under the leadership of figures such as Edward H. Crane, launched Regulation to provide a platform for rigorous, evidence-based criticism of regulatory overreach. The publication emerged alongside other influential free-market periodicals like The Public Interest and has consistently reflected the Chicago school of economics influence on regulatory scholarship.

Content and focus

The journal's content is dedicated to the scholarly and accessible examination of regulatory issues, emphasizing empirical research and economic reasoning. Typical articles analyze specific rules from agencies like the Federal Communications Commission, the Food and Drug Administration, or the Securities and Exchange Commission, assessing their efficacy and market impacts. Recurring themes include critiques of command-and-control regulation, advocacy for market-based instruments like cap-and-trade systems, and explorations of regulatory capture theory. The journal also covers broader policy debates concerning antitrust law, telecommunications deregulation, financial regulation following the Dodd-Frank Act, and the economic analysis of health and safety standards. It regularly includes book reviews of works on related topics from authors at institutions like the American Enterprise Institute or the Brookings Institution.

Editorial structure

Regulation is edited by Peter Van Doren, a senior fellow at the Cato Institute, who oversees the journal's editorial direction and peer-review process. The editorial board comprises a diverse group of academics and policy experts from fields such as economics, law, and political science, many affiliated with universities like George Mason University, the University of Chicago, and Stanford University. The journal operates a traditional peer-review system to ensure scholarly rigor, while maintaining a style aimed at accessibility for policymakers, journalists, and informed laypersons. This structure ensures that contributions meet high academic standards while advancing the publication's mission of critiquing regulatory policy from a market-oriented perspective.

Impact and reception

The journal has exerted a notable influence on academic and policy debates surrounding regulation, particularly within conservative and libertarian circles in the United States. Its articles are frequently cited in scholarly literature, congressional testimony, and legal briefs, especially in cases involving administrative law and cost-benefit analysis. Critics, often from the progressive policy community or advocates of a more assertive regulatory state, sometimes argue the journal exhibits a persistent bias against government intervention. However, its empirical approach and focus on regulatory failure have earned it respect as a serious forum for policy analysis, contributing to reforms in areas like airline deregulation and telecommunications policy. It is considered a key intellectual outlet for the free-market movement in the ongoing debate over the proper scope of the administrative state.

Notable contributors and articles

Over its history, Regulation has featured work from many prominent scholars and policy analysts. Early influential contributors included Antonin Scalia, who wrote on administrative law before his appointment to the Supreme Court of the United States, and Richard A. Posner, a judge on the United States Court of Appeals for the Seventh Circuit. Notable economists such as Sam Peltzman, known for the Peltzman effect, and W. Kip Viscusi, an expert on risk regulation, have been frequent authors. Seminal articles have addressed topics ranging from the inefficiencies of the Interstate Commerce Commission to analyses of the Consumer Financial Protection Bureau. The journal has also published perspectives from notable figures like Christopher DeMuth of the American Enterprise Institute and Susan Dudley, former administrator of the Office of Information and Regulatory Affairs.

Category:American quarterly journals Category:Public policy journals Category:Law and economics journals Category:Publications established in 1977 Category:Cato Institute