<DIV> <DIV>The efficacy of various political institutions is the subject of intense debate between proponents of broad legislative standards enforced through litigation and those who prefer regulation by administrative agencies. This book explores the trade-offs between litigation and regulation, the...</div></div>

Much political debate revolves around the relative efficacy of various political institutions. On one side are those preferring regulation, specific rules that are developed and enforced by administrative agencies, and on the other side are those favoring broad legislative standards that are...