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Excessive and inappropriate government regulation is one of the most pressing issues of our time. Increasing regulatory density translates into less economic freedom and choice, higher compliance costs reaching up to 10% of gross domestic product, and industry capture of regulation, leading to corporate scandals in several sectors as well as systemic crises in the financial realm.
According to the PwC Global CEO Survey, overregulation remains the top business concern globally, and in the top five perceived threats across every region surveyed. Regulatory overreach, increasingly driven at the supranational level, may hamper economic growth prospects more than geopolitical and monetary risks going forward.

How can regulation be better reconciled with entrepreneurial freedom and consumer choice? Would self-regulation and consultation processes akin to the Swiss practice promote more effective rules? How can regulatory capture by special interests be prevented in order to keep competition and innovation alive to the benefit of all? What role should personal responsibility and market reputation play in the 21st century?

This publication, which draws on the international Better Regulation Conference held on 25 September 2018 in Geneva, reassesses markets, risks, and responsibility in an environment where competitiveness becomes a priority in many countries.