A good example of regulatory law would be an act proposed by congress that limits the amount of forests logging companies are allowed to cut down. If they allowed loggers to cut down as many trees as they want, the result would be heavy and damaging deforestation; whereas if they didn’t allow any loggers to cut down any trees, the result would be a lack of available timber. One option damages the ecology, the other damages economy. Some may say that the law being passed is a compromise between environmentalists and business executives, but this isn’t exactly accurate. A congressman or senator might look at the situation and feel both the needs of environment and economy, and feel that such an act regulating the lumber economy would produce the greatest benefit for the nation.
An example of a restriction, or a “prohibitory law,https://www.curabon.com/ be nearly any form of crime that has existed for the past millenium: threatening someone’s life, attacking someone unprovoked and without cause, killing someone, stealing someone’s property, etc., etc.. There is no leeway with any of these crimes. As far as the law is concerned, there is just cause in completely cutting off the flow of any of these actions from happening. And the legislators have just cause to believe their decision is right. Here, I hope I have clarified the difference between a regulation and a prohibition, and the importance of recognizing the difference. As my readership should be well aware: I have written at length elsewhere about basic functions, mechanics, and behaviors of the economy, responses and reactions to certain stimuli by economic agents, etc., etc.. And, as well, I have also proposed certain ideas and thoughts that could be manipulated by statesmen to enact a much more just form of political economy. By the term “a just political economy,” I am implying an economic system where wealth distribution aims closer towards those who produce the wealth (the real meaning of justice), while mainting a higher, more dignified regard for personal rights of the individual. I am not going to describe any of these suggested reforms right here, because they are available to my readers and I have succinctly made my point about the difference of regulation and prohibition.