The Regulation of Franchising in the New Global Economy
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The Regulation of Franchising in the New Global Economy

Elizabeth Crawford Spencer

While franchising promotes economic and social welfare objectives, Elizabeth Crawford Spencer argues that monitoring and regulation are needed to address potential areas of abuse of the form that can result in costly market inefficiencies.
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Chapter 1: Reconceiving Regulation

Elizabeth Crawford Spencer


‘Man’s capacity for justice makes democracy possible, but man’s inclination to injustice makes democracy necessary.’1 Public mistrust of regulation has become a norm, embodied in the idea that if government refrains from regulatory activity, people will have increased freedom, money, time and resources to live as we choose. Former US President Ronald Reagan labelled the phrase ‘I’m from the government and I’m here to help’ the nine most terrifying words in the English language. But such thinking, however appealing, reflects a narrow view of regulation. This chapter explores what regulation has become, how it has evolved to the current ‘new learning’, which reconceptualizes regulation as governance. This chapter outlines the ‘new learning’ on regulation according to three key principles: ● ● ● the importance of self-regulation in expanding the potential for creative solutions to effectively serve regulatory purposes; a widened perspective of regulation, as it functions at every ‘layer’ of a contractual interaction, in which self-regulation plays an integral role in a broadened perspective on governance and tools of regulation; and an acknowledgement of the importance of process because its broadened scope renders regulatory process more complicated, proper process at all stages of regulation becomes more critical, from information collection to problem identification through selection of tools, implementation, and monitoring and management. These new approaches to regulation provide the framework for the subsequent treatment of franchising and its regulation in this book. 1 Ursula M. Niebuhr (ed), Remembering Reinhold Niebuhr: Letters of Reinhold and Ursula M. Niebuhr (1991). 14 M2454 - SPENCER TEXT.indd...

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