International Encyclopedia of Geography: People, the Earth, Environment and Technology 2017
Regulation, the process of regulating or being regulated, is a geographical concern. Contra the thought processes of neoclassical economics and the assumptions of equilibrium and optimality, everything else is neither equal nor without hands. The economy, for instance, is not an unmediated outcome of universal and transhistorical processes operating across a featureless and stateless isotropic plane. It is a function of highly complex, messy, and geographically grounded processes in places and regions. There are two distinctive branches of regulation thought in geography: first, notions of “real” regulation and, second, regulation theory and the regulation approach.