Because it lacks anticipatory rulemaking capability, the existing regulatory system addresses issues only ex post, and only once they have materialized and burdened core constituents enough to generate political pressure on lawmakers.
Source quote, verbatim
Because it lacks anticipatory rulemaking capabilities, the existing regulatory system addresses regulatory issues only ex-post, if and when they materialize and if core constituents are sufficiently burdened to precipitate enough political pressure for lawmakers to act.
From
Wulf A. Kaal, Erik P.M. Vermeulen, Venture Capital as Dynamic Regulation of Disruptive Innovation (2016), IV.4. Unknown Future Contingencies, p. 22 https://ssrn.com/abstract=2740477 · source PDF
Cite as
Wulf A. Kaal, Erik P.M. Vermeulen, Venture Capital as Dynamic Regulation of Disruptive Innovation (2016). SSRN: https://ssrn.com/abstract=2740477
Holds when
issues must materialize and burden core constituents before action
Classification
failuresupport: arguedfailure: Political pressure trigger requirementfamily: regulatory-lagregulatory-failure
Related claims
restated_bykaal:claim:2808132-024 Because it lacks anticipatory capabilities, the existing regulatory system only addresses regulatory issues ex...
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