ABSTRACT
This chapter reviews various types of market-based regulation and addresses the need for international harmonization. Reflexive law focuses on influencing the “self-referential” capacities of the social institutions subject to regulation. Reflexive law attempts to provide solutions to the gridlock of modern law. Reflexive solutions offload some of the weight of social regulation from the legal system to other social actors. One of the first major environmental statutes passed in the United States was neither market-based nor command-and-control. When the global dimension is considered, it becomes even more clear that the force of business, especially that of large multinational enterprises, must be enlisted in the environmental cause. Reflexive environmental law enlists businesses and other intermediary institutions in the struggle for environmental protection. The inadequacy of command-and-control regulation fuels the hottest growth industry in environmental law: “free market enironmentalism.” Environmental marketing regulation to identify “green products” is the more ambitious variant.
