In industries where government oversight is extensive—such as financial services, pharmaceuticals, freight rail and insurance—the idea of industry self-regulation may seem unnecessary or redundant.

Industry self-regulation, a form of “soft law,” has long been a key element in the governance of the U.S. economy, offering businesses a vehicle to establish and enforce standards that enhance ...

Scientific American is part of Springer Nature, which owns or has commercial relations with thousands of scientific publications (many of them can be found at www ...