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Regulated market
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<h2 id="changes-in-regulation">Changes in regulation</h2> <p>Regulation is subject to changes over time, due to both <a href="/facts/Innovation/aa7hadLw">technological advances</a> as well as the change in attitude towards regulation in general. An example for industries that are no longer regulated is the <a href="/facts/Rail_transport/9nJQbsDV">rail service</a> or <a href="/facts/Airline/CEwakbf5">airlines</a> 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 <a href="/facts/Real_estate_business/FmQHyz9w">real estate market</a>. </p><p>Another category are the markets that encountered major changes in regulatory approaches due to various <a href="/facts/Financial_crisis/lVXVuazP">crises</a>. A prime example are <a href="/facts/Stock_exchange/lTJvjyVW">stock exchanges</a> following <a href="/facts/Stock_market_crash/lbvTazdh">stock market crashes</a>.<a class="footnote-ref" id="fnref:7" href="#fn:7"><sup>7</sup></a> </p><p>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. One notable example of such interest groups is medieval <a href="/facts/Guild/cWSyNP50">guilds</a>. They were associations of <a href="/facts/Merchant/bPb8WTBb">merchants</a> and <a href="/facts/Artisan/XNzAT1ua">artisans</a> 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, <a href="/facts/Labour_movement/Pr9EVwlx">labour groups</a> at times have had regulatory roles in some markets. </p> <h2 id="controversy">Controversy</h2> <p>Regulation is considered a polarising issue. Those in favour of regulating usually see it as beneficial to the wider society, for example regulations targeting <a href="/facts/Ecological_economics/t2N5upyK">ecological</a>, <a href="/facts/Racism/SfrqGbu8">racial</a>, or <a href="/facts/Religion/cxntrD0R">religion</a> related issues. Those against regulation see it as a tool for <a href="/facts/Lobbying/lzdxSAUj">lobbying</a> or as a source for creating <a href="/facts/Unfair_competition/W3Gt8IQR">unfair competition</a>. Some advocates of <a href="/facts/Free_market/KnK7JohY">free market</a> generally see any regulation except for the most essential ones as costly and inefficient.<a class="footnote-ref" id="fnref:8" href="#fn:8"><sup>8</sup></a> </p> <h2 id="examples-of-regulatory-bodies">Examples of regulatory bodies</h2> <ul><li><a href="/facts/Food_and_Drug_Administration/rCEnh9WB">Food and Drug Administration</a> (FDA)</li> <li><a href="/facts/U.S._Securities_and_Exchange_Commission/IM9Pl2gK">Securities and Exchange Commission</a> (SEC)</li> <li><a href="/facts/United_States_Environmental_Protection_Agency/ghI985SI">Environmental Protection Agency</a> (EPA)</li></ul> <h2 id="see-also">See also</h2> <ul><li><a href="/facts/Better_Regulation_Commission/o7zMP9QE">Better Regulation Commission</a></li> <li><a href="/facts/Bureaucracy/V9oFPCuG">Bureaucracy</a></li> <li><a href="/facts/Code_of_Federal_Regulations/gxfzmbCN">Code of Federal Regulations</a></li> <li><a href="/facts/Deregulation/GfeqM1oM">Deregulation</a></li> <li><a href="/facts/European_Union_directive/KS076mKR">European Union directive</a></li> <li><a href="/facts/European_Union_regulation/3V8Mynly">European Union regulation</a></li> <li><a href="/facts/Free_market/KnK7JohY">Free market</a></li> <li><a href="/facts/Mixed_economy/M27dNu2U">Mixed economy</a></li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>Encyclopedia of Management, Pennsylvania State University, Gale, 2009, p. 31. <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>"Regulatory (Regulated, Controlled) Market". capital.com. Retrieved 2020-04-24. <a href="https://capital.com/regulatory-controlled-market-definition" target="_blank">https://capital.com/regulatory-controlled-market-definition</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>Encyclopedia of Management, Pennsylvania State University, Gale, 2009, p. 31. <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>"Regulatory (Regulated, Controlled) Market". capital.com. Retrieved 2020-04-24. <a href="https://capital.com/regulatory-controlled-market-definition" target="_blank">https://capital.com/regulatory-controlled-market-definition</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>Encyclopedia of Management, Pennsylvania State University, Gale, 2009, p. 31. <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> <li id="fn:6"><p>Encyclopedia of Management, Pennsylvania State University, Gale, 2009, p. 31. <a href="#fnref:6" class="footnote-back-ref">↩</a></p></li> <li id="fn:7"><p>"Regulatory (Regulated, Controlled) Market". capital.com. Retrieved 2020-04-24. <a href="https://capital.com/regulatory-controlled-market-definition" target="_blank">https://capital.com/regulatory-controlled-market-definition</a> <a href="#fnref:7" class="footnote-back-ref">↩</a></p></li> <li id="fn:8"><p>Kenton, Will. "What is a Regulated Market?". Investopedia. Retrieved 2020-04-24. <a href="https://www.investopedia.com/terms/r/regulated-market.asp" target="_blank">https://www.investopedia.com/terms/r/regulated-market.asp</a> <a href="#fnref:8" class="footnote-back-ref">↩</a></p></li> </ol>