Administrative agencies play a crucial role in regulation from "summary" of Economic Analysis of Law by Richard A. Posner
Administrative agencies are a fundamental component of the regulatory framework in modern societies. Their role is to implement and enforce regulations that have been enacted by legislatures. These agencies have the expertise and resources necessary to monitor compliance with the law and take appropriate action when violations occur. One of the key advantages of administrative agencies is their ability to adapt and respond to changing circumstances. Laws passed by legislatures can be inflexible and slow to change, whereas administrative agencies can quickly adjust their regulations based on new information or developments in the economy. This flexibility allows agencies to address emerging issues and ensure that regulations remain effective in achieving their intended goals. Another crucial function of...
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