Regulation (19TH CENTURY- )
Regulation describes government intervention in the price, sale and production decisions of a firm. Regulation is often a response to chaotic growth, abuses of monopoly powers and price-fixing, and is seen as a method of consumer protection. Also see: laissez-faire, physiocracy, mercantilism, economic liberalism, new classical macroeconomics Source: M A Utton, The Economics of Regulating Industry (Oxford, 1986) Social