Judgment and regulation: two wings of ensuring the public good

Judging in today’s world is much more difficult than in the past. Legal cases in economic areas have become more complex over time and have taken on different dimensions. Companies in competition with each other sometimes ignore the rules of the free market, leading to harm to the public interest. Citizens, as consumers of goods and services produced in the private sector, also always need an acceptable level of reliability, which is achieved by the presence of regulatory bodies (as bodies that handle violations) and judgment (as bodies that handle crimes). Legal cases in which legal entities (economic enterprises) are involved have major differences from cases in which real persons are involved in disputes and lawsuits. In corporate cases, there is an unequal balance of legal powers in favor of companies, and they come to court with a team of skilled lawyers and full hands to win. Citizens, on the other hand, do not have the opportunity to engage in long-term legal cases. On the other hand, companies have huge financial capital that allows them to exert great pressure to win cases. However, the other side of this coin is in countries with a weak private sector and strong state and quasi-state interventions in economic relations. In these cases, there is an imbalance between winners and losers of this situation, and we can only hope to achieve the public interest if the regulatory bodies demonstrate an independent function and are trusted by the private sector. Therefore, the coordinated functioning of regulators and the judiciary is important in various economic systems and forms part of a dynamic bioeconomy.