ABSTRACT
Chapters 2, 3, and 4 dealt with three specific cases of regulatory reform aiming to ensure proper rule-based governance while achieving a larger degree of marketdriven coordination and control. The policy issues presented shed light on the interaction between various institutions that link individual decisions to collective choice, private interest to public welfare concerns, and the decentralized allocations of the ‘invisible hand’ to the centralized directions of more visible ones. Figure 1.3 offered a common reference for tying plain spot-market coordination to the constitution of supranational agreements and for illustrating the evolution and limits of institutional solutions to the principal problem of governance – distrust.
