The United States government establishes bodies with rule-making and enforcement authority to oversee specific sectors of the economy or aspects of public life. These entities, often referred to as regulatory agencies, are designed to ensure compliance with laws and standards. An example is the Environmental Protection Agency (EPA), which sets and enforces environmental regulations.
The genesis of these agencies often stems from a need to correct market failures, protect consumers, safeguard the environment, or maintain fair competition. The creation of such entities provides specialized expertise and focused attention to areas where broad legislation may prove insufficient. Historically, regulatory agencies have emerged in response to societal demands for greater accountability and safety in various industries.
