SELF-INTEREST AND RESPONSIVE REGULATION

To make regulation more responsive to the public interest, Ian Ayers and John Braithwaite recommend improved administrative techniques, such as enforcement pyramids, to improve industry compliance; and they advocate vesting public interest groups with regulatory powers, so as to reduce regulatory capture by industry. Their arguments, while suggestive, do not take seriously enough the subtle and multifarious influences of interest groups. Consequently, the authors' recommendations are not likely to improve regulation's responsiveness to the general welfare.