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Professor Claudio听Radaelli鈥檚 focus is regulatory reform. As a member of the European Research Council听his goal is to strike the balance between 鈥渞ed tape and red flags鈥� to ensure that government rules听are their most effective in smoothly running society.

Radaelli starts with a bit of history about how he got into studying regulatory reform, mentioning听that what attracted him was a wave of regulatory reforms from the OECD and other international听organisations that got him to think about the difference between good and bad regulation.

Radaelli argues that one must critically engage with the status quo. He says the rationale of听regulatory policy is to 鈥渋ntervene in cases where the market is not performing efficiently so that听we can not only address those failures but also promote public values.

With this understanding, he lists three aspects of creating regulation:
1. Regulation does not distribute financial resources
2. Regulation sets rules
3. Key resource is knowledge of those who are regulated

Further, he says good regulation is efficient, clear, targeted, accessible, and fair. With this, he听urges that governments should move from quantity of rules to quality of them. From Professor听Radaelli鈥檚 lecture I have understood that 鈥渓iving in a world of rules鈥� has the potential to be
incredibly beneficial and useful or convoluted and corrupt. Large regulatory bodies can greatly听influence society. Thus, by learning how to navigate the world of regulatory听reform effectively,听we can as Professor Radaelli noted, 鈥渙rganise ourselves for the future鈥�.

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