ABSTRACT
There is almost no doubt that regulation has become the most prominent expression of those involved in democracy and global capitalism. Starting in the United Kingdom during the middle of the 18th century and continuing in the United States, regulation policy has spread during the last decades to Australia, New Zealand, Latin America, Western and Eastern Europe, Scandinavian countries, the Far East, and also to the Middle East. Complex questions arise at the heart of this topic, such as the power of regulators, their institutional arrangements, and discretion and doctrine, while the political agenda also criticizes the state becoming a regulatory state.
