Regulatory flexibility allows for adaptation to new challenges from "summary" of The Economics of Regulation: Principles and Institutions: Economic principles by Alfred Edward Kahn
Regulatory flexibility refers to the ability of regulatory frameworks to adjust and respond to new challenges that may arise over time. The concept is rooted in the recognition that the regulatory environment is dynamic and constantly evolving, making it necessary for regulatory policies to be adaptable to changing circumstances. This flexibility allows regulators to modify and update rules and regulations in response to new information, technological advancements, or shifts in the economic landscape. By incorporating flexibility into regulatory frameworks, policymakers can better address emerging issues and ensure that regulations remain effective and relevant. This adaptability is crucial in a rapidly changing world, where new challenges and opportunities constantly emerge. It allows regulators to stay ahead of the curve and proactively address potential problems before they escalate. One of the key advantages of regu...
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