The public administrator: Regulating for maritime transport efficiency

One role often fulfilled by public administrators is to regulate private enterprise in the public interest. The academic literature has not developed this area fully because public administration is not always tasked with this function. Nevertheless, when regulation forms a part of the responsibilities of the public administrator, it is among the most important. An essential foundation for effective regulation is a complete understanding of the implications and impact of regulatory action. In the absence of regulation, entrepreneurial awareness is applied in the private sector exclusively to satisfying consumer wants. In a regulated market, the entrepreneur’s focus is shifted toward regulatory imperatives. Regulation offers non-market opportunities for entrepreneurial innovation, as well as imposing new market constraints. This paper examines regulation of the maritime industry by the US federal government as an example.