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Honorable Roger J. Traynor Lecture by Professor Reuel Schiller
September 10 @ 12:00 pm - 1:00 pm
Regulation and the Collapse of the New Deal Order
How I Learned to Stop Worrying and Love the Market
This lecture examines the emergence of a post-New Deal conception of regulation, often called “The New Governance.” I will first describe the policy premises of the New Deal administrative state and contrast them with the underlying assumptions of New Governance. In doing so, I will explain how the ideas that permeated the New Governance made their way into regulatory policy in the 1980s and 1990s. I will then explore the reasons for the rise of this new way of conceiving of the administrative state. In particular, I will demonstrate that the New Governance had its origins not only in conservative attacks on the premises of the New Deal Order, but from the left’s powerful critique of the postwar liberal state.
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