Part 1 Fundamental conceptions: the nature and scope of economic policy; welfare economics, power and property; interrelations between legal and economic processes; some fundamentals of the economic role of government; the legal-economic nexus. Part 2 The theory of regulation: normative premises in regulatory theory; regulation and regulatory reform - some fundamental conceptions; deregulation - the principal inconclusive arguments; ecosystem policy and the problem of power. Part 3 The compensation problem: an economic perspective on the compensation problem; the role and resolution of the compensation principle in society - part 1 - the roel; the role and resolution of the compensation principle in society - part 2 - the resolution.