Consumer Law, Regulatory Capitalism and the 'New Learning' in Regulation

Abstract

This article relates developments in consumer law to the ‘new learning’ about regulation. The new learning describes the growth of decentred regulation associated with the use of instruments of regulation that harness market factors and incentives to the regulatory project. At the same time there is also increased monitoring within government of regulatory initiatives, and more international influence through standards, and regulatory networks. This article explores these developments initially by probing the growth of the conception of the consumer as a regulatory subject and examining the influence of international and regional influences on consumer law. It then analyses several areas of contemporary regulation of consumer markets through the lens of the new learning. The article concludes that the new learning does further our understanding of consumer regulation but that the state still plays a significant role. The distributional impact of the new consumer regulation remains contested. Further empirical research of particular regimes is necessary to determine this impact