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Economy of Urcea: Difference between revisions
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"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. | ||
===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. | "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. | ||
===Union regulation=== | ===Union regulation=== | ||
Urcea's membership within the common market of the [[Levantine Union]] means several Union-originated regulations also exist within the economy. These are primarily related to product standardization. | Urcea's membership within the common market of the [[Levantine Union]] means several Union-originated regulations also exist within the economy. These are primarily related to product standardization. | ||