Josef W. Konvitz
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Regulatory governance, risk, and the new security economies
in Cities and crisis
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Governments regulate in response to crises of all kinds. Regulatory policy has emerged as a distinctive field of government in the past 25 years, with standards for cost-benefit analysis, impact assessment, consultation, and compliance. But many 21st century risks linked to innovation or cross-border risks are not easily addressed through regulation; international regulatory co-operation works best on technical issues. Political leadership will be needed to create new alliances or frameworks to address global catastrophic risks. The private sector and government face security risks but of very different kinds, affecting hard and soft infrastructures. The new security economy defined by states has led to a revival of command-and-control regulation, and to something new on a global scale, extra-territorial regulatory reach. Expanding the scope for innovation will help the commercial economy generate solutions to collective problems.

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