Open AccessA Critical Analysis on the Theories of Regulation
Author(s) -
Jayasuriyan B*,
S Malaimagal
Publication year - 2019
Publication title -
international journal of innovative technology and exploring engineering
Language(s) - English
Resource type - Journals
ISSN - 2278-3075
DOI - 10.35940/ijitee.l2921.1081219
Subject(s) - intervention (counseling) , government (linguistics) , economic interventionism , order (exchange) , public economics , public interest theory , government regulation , power (physics) , economics , public interest , positive economics , business , political science , psychology , law , politics , finance , linguistics , philosophy , physics , quantum mechanics , china , psychiatry
Regulation in general is literally defined as a form of government intervention in the economic activity and interference with the workings of the free-market system. According to certain views, regulation is “synonymous with government intervention in social and economic life”. Free marketeers do not like regulations because they do not like any form of intervention in which that is made by the government and prefer to feel the full power of the market. However, those who believe that the government intervention may be necessary, and then even such people should not be exposed to the full tyranny of the market on find regulation to be tolerable, even desirable. Majorly, three theories of regulation in which that is made and referred till now, as in which they are Public Interest Theory, Private Interest Theory and Institutional Theories as in which each theory flows and deals with different aspects in order to provide a proper regulation. And The current research focuses on the theories of regulation with regard to the satisfaction of the people, and the current issue analyzed with the help of Statistical Package for the Social Sciences, and it is used by various kinds of researchers for complex statistical data analysis in order to produce an appropriate and an unbiased result.