6. Conclusion

Excerpt

Studies of services of public interest dealing with the reasons for their special regulatory treatment develop several possible explanations for it. For the argument in the present book the notion of public values is of significance as it explains most extensively and profoundly why public interest in certain services emerges. Due to the attribution of certain values deemed fundamental for society to a particular set of services, an interest in the close control or regulation of their provision is present. This interest can be realised by various mechanisms, both from the toolbox of competition law and with the help of regulatory instruments, the choice remaining with the policy based on the momentarily prevalent economic theory, technological feasibility and social desirability. The connection between a market for the service of public interest and society established through regulation of such a kind can be described as social embeddedness because it aims at tying up and steering the market development in line with and for the benefit of social development. …