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Increased regulation is linked to the various crises affecting traditional types of normativity: imposed normativity in the context of the state; spontaneous normativity in that of the market. Regulation would seem to be a means not only of compensating for the failings of the market, but also of confronting the deficiencies of hierarchy. Over and beyond, it fills in for a lack of legitimacy by making normativity the best possible representation of the wishes of those whose activity it must govern. Regulation is thus a sign of an emerging dialogic democracy.