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Economy of Urcea: Difference between revisions
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As a {{wp|social market economy}}, the Urcean economy is subject to significant regulations. The primary regulator is the [[Ministry of Commerce (Urcea)|Ministry of Commerce]] on most issues, especially trade and finance. The [[Guilds (Urcea)|guilds]] themselves, in tandem with the Ministry of Commerce, oversee labor conditions within the country. | As a {{wp|social market economy}}, the Urcean economy is subject to significant regulations. The primary regulator is the [[Ministry of Commerce (Urcea)|Ministry of Commerce]] on most issues, especially trade and finance. The [[Guilds (Urcea)|guilds]] themselves, in tandem with the Ministry of Commerce, oversee labor conditions within the country. | ||
===Public regulation=== | ===Public regulation=== | ||
"Public regulation" refers to mandates and regulations imposed by the Urcean government or the provinces, crownlands, and states within Urcea. This is the least common form of regulation due to the role of guilds in the economy. Although the government in many cases does not directly impose regulations, it has an important role to play with regard to negotiating with the guilds for the imposition of certain regulations. | "Public regulation" refers to mandates and regulations imposed by the Urcean government or the provinces, crownlands, and states within Urcea. This is the least common form of regulation due to the role of guilds in the economy. Although the government in many cases does not directly impose regulations, it has an important role to play with regard to negotiating with the guilds for the imposition of certain regulations. The government does have some role in imposing certain regulations in the form of {{wp|consumer protection}}, as consumers are the one part of the economy not represented within the guild apparatus. The [[Ministry of Commerce (Urcea)|Ministry of Commerce]]'s [[Ministry_of_Commerce_(Urcea)#Office_for_Equitable_Economic_Activity|Office for Equitable Economic Activity]] is generally responsible for negotiating consumer protections with the guilds, but does have authority to impose regulations on its own fiat. The Office is also responsible for enforcing various regulations on the financial sector, especially with regard to ensuring that banking and finance complies with Catholic ethics. | ||
===Private regulation=== | ===Private regulation=== | ||
"Private regulation" - those regulations self-imposed by [[Guilds (Urcea)|guilds]] - are the most common form of regulations within the Urcean economy. Guilds have a relatively wide berth of authority over their associated industry, ranging from minimum wage and workplace conditions to industry standards for manufacturing and generally-enforced best practices. The guilds - which collectively represent both labor and capital within them - typically negotiate most points of regulation, ensuring that the enacted regulatory scheme benefits both the workers as well as business proprietors. | "Private regulation" - those regulations self-imposed by [[Guilds (Urcea)|guilds]] - are the most common form of regulations within the Urcean economy. Guilds have a relatively wide berth of authority over their associated industry, ranging from minimum wage and workplace conditions to industry standards for manufacturing and generally-enforced best practices. The guilds - which collectively represent both labor and capital within them - typically negotiate most points of regulation, ensuring that the enacted regulatory scheme benefits both the workers as well as business proprietors. | ||