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The practice of regulating markets dates back centuries when ancient societies relied on standardised weights and measurements and practised punishment for theft and fraud. For the most part, market regulations have been imposed by the central governments and to a lesser extent by interest groups.
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that controlled the practise of their profession in their particular area. Guilds defined requirements for practising their profession, which usually meant that only guild members could practise their profession or sell their goods within their city. Since the beginning of the 20th century,
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One of the reasons for regulation can be the importance of the regulated activity – meaning the harm suffered should the industry fail would be so fatal that
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Regulation is considered a polarising issue. Those in favour of regulating usually see it as beneficial to the wider society, for example regulations targeting
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in the US. On the other hand, there are also industries that did not need regulation in the past, but are in need of it now. This includes for example the
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as well as the change in attitude towards regulation in general. An example for industries that are no longer regulated is the
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is an idealized system where the government or other organizations oversee the market, control the forces of
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generally see any regulation except for the most essential ones as costly and inefficient.
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would very likely appear should there be no regulation. It is crucial to prevent misuse of
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A variety of forms of regulations exist in a regulated market. These include controls,
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related issues. Those against regulation see it as a tool for
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One notable example of such interest groups is medieval
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Regulation is subject to changes over time, due to both
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are usually not at all or only moderately regulated.
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at times have had regulatory roles in some markets.
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Market regulated and/or controlled by the government
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825:Perspectives on capitalism
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1047:are regulated, whereas
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785:Culture of capitalism
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186:Rent seeking
151:Visible hand
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1301:Free market
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1208:Controversy
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933:Objectivism
918:Libertarian
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589:Progressive
528:Development
511:Physiocracy
458:Supply-side
266:Libertarian
244:Free-market
224:Anglo-Saxon
206:Wage labour
161:Marginalism
131:Free market
86:Corporation
1399:Categories
1384:2020-04-24
1359:2020-04-24
1312:References
1214:ecological
1179:following
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1115:oversights
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913:Liberalism
898:Humanistic
883:Democratic
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697:Schumpeter
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374:Chartalism
321:Regulatory
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32:Capitalism
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391:Classical
234:Corporate
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336:State
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281:Mixed
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