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Flipping markets to virtue with qui tam and restorative justice

This is a research report on Flipping markets to virtue with qui tam and restorative justice uploaded by Jasmine Pvk in category: All Documents »  International Business »  Global Business Environment section of our research repository.
1382 views, 0 comments, Last Update: Feb 6, 2016.

Tags: market in virtue
Contemporary economies are characterised by a regulatory capitalism in which both markets
and regulation extend their sway. Freer markets with more rules nurture markets in
vice that game regulation. Tax avoidance and evasion are used to illustrate these dynamics.
Yet freer markets with more rules also engender markets in compliance services that can
be virtuous and more dominant (more demanded) than markets in vice. As a result of that
dominance, firms and individuals often comply at levels that seem economically irrational
virtue. To hold corporations to compliance through markets in virtue requires regulation
with toughened enforcement capabilities for drawing out insider information about looming
problems. Qui tam is suggested as one option. This option can be complemented with a
more deliberative approach, restorative justice. One reason to consider this package of
hybrid private–public enforcement that knows no jurisdictional boundaries is that when
fraud is globalised, firms organise their affairs so that fraud is off-shore from all state regulators
with an interest in exercising jurisdiction against it.


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