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Christian Koenig and Bernhard von Wendland

Regulation is the key to overcoming the tyranny of the marketplace in the pursuit of economic justice and welfare: it can prevent the abuse of economic dominance. Such abuse undermines a functioning market, the economic motor to producing welfare, sustainability and inclusiveness. Abuse of public capital is as omnipresent as the abuse of market dominance by private capital. The state can make major investments or compete with the private sector, or pick winners and subsidise them. Such interventions may be necessary e.g. to provide infrastructure. The wasteful allocation of public monies, however, can do immense harm: it can crowd out private investments, distort private incentives and help foreclosing markets. In any case, it deviates scarce funds from those who need them most. Therefore, regulation of state aid and public procurement is just as essential as regulation against the abuse of market dominance by private capital. State monopolies have been another public cause of economic exploitation until the recent past. Besides poor quality of service, consumer bondage within state monopolies used to entail much higher prices for services compared to liberalised markets in other jurisdictions. After liberalisation though, complex and well-adjusted regulation is crucial to induce functioning competition and to allocate the welfare benefits from liberalisation. Keywords: abuse of market dominance, liberalisation, state aid, states monopolies, regulation

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Anupam Chander

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Christian Koenig and Bernhard von Wendland

Regulation remains what it is, namely, ordinary law that should be adopted and enforced based on democratic principles. Those principles limit executive power, guarantee the rights of individuals and prescribe a democratic process. This chapter will first retrace the EU regulator’s actual course in internal market, wealth and competition policies. Then, we will look at the EU’s current attempts to ‘make the EU as a whole more democratic’, to cut red tape and improve the quality of legislation and shape regulation through ‘soft law’. We will also make proposals on how to effectively control the EU regulator. Is the EU warily gazing at the horizon? Behind it, new resources, fresh potential and tough challenges are waiting to be discovered. For regulators, businesses, and consumers, there is a new frontier – big data. Regulation has to keep pace with innovative and even revolutionary business strategies and must free itself from conditioned patterns of classical ‘one-fits-all economics’ that worked so well in the old offline world. Just warily gazing at the horizon will set Europe aside from the global club of innovators. Keywords: big data, control of the EU regulator, democratic principles, governance, legislation, new frontier, soft law

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Christian Koenig and Bernhard von Wendland

European history of welfare economics resembles a roller coaster. From the peaks of integration to the downs of disintegration of the Roman Empire, from the ‘dark ages’ to the medieval guild system via mercantilist absolutism, from highly regulated industries to industrial revolution, from unfolded capitalism to social market economy – European history of both deprivation and welfare served universally as a perfect laboratory to refine the art of regulation. Finally, the European Union is approaching an equitable distribution of inclusive wealth by virtue of the rule of law. Keywords: capitalism, medieval guild system, mercantilism, Roman Empire, social market economy

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Geert Van Calster and Leonie Reins

This chapter discusses the European water protection legislation and policy. More precisely, it introduces the Water Framework Directive, as well as the regulatory tools for adapting to climate change impacts, such as floods, droughts and water scarcity. It further establishes the legislation applicable to drinking water, bathing water, groundwater, water pollution and protection of the marine environment.

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Geert Van Calster and Leonie Reins

EU law on waste management is prolific, has an important business impact, and ranks historically among the earlier pieces of EU environmental law. It is also very regularly the subject of preliminary review procedures with the Court of Justice, has led to a string of infringement procedures by the European Commission, and is of course routinely applied in national courts by virtue of the primacy of EU law in national legal orders. It is impossible to give even a succinct overview in the space justified in a book of this nature. Instead, an overview of the EU’s overall waste policy is given and the main issues surrounding the “definition” of waste are highlighted, since it is only when a substance is defined as “waste” that the (many) waste laws apply.

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Titti Mattsson and Mirjam Katzin

In this chapter, the usefulness of Martha Albertson Fineman’s vulnerability theory as a theoretical framework and analytical tool for elder law is discussed. The theory proclaims that the meaning of being a human is to be vulnerable, and not the autonomous, free and independent position which is often asserted in jurisprudence. The overall conclusion is that the theory is useful for analyses of the legal position of elderly persons as well as the structural implications for the elderly due to demographic, technical, social and economic changes in society. Vulnerability theory, ageing population, dependency, universal vulnerability, lifespan approach, theoretical framework