Add to ORKGCommenting on Thomas E. Kauper\u27s Antitrust: Economic Regulation or Deregulator? Professor Payton proposed to comment on both Professor Steiner\u27s and Professor Kauper\u27s papers since both addressed the current crisis of regulatory legitimacy and competence. Steiner\u27s theory that this current controversy arose from irritation generated by social, as distinct from economic, regulation first received Payton\u27s attention. Like Steiner, Payton questioned why economic regulation has taken the forms it has and why we have recently become dissatisfied with them. Law incorporates a society\u27s fundamental understanding of what constitutes right conduct. giving some values priority through protection and enforcement. It does this n...