A consensus is emerging that markets are not necessarily self-regulating and the mindless deregulation of the neo-classical era has reached an intellectual dead end. Nonetheless, no agreement has emerged about the appropriate role of regulation in the new era or how it can be made to work. There is little confidence in regulators as neutral experts removed from the political arena or in regulation as an exercise in interest group politics that inevitably gives more voice to the better organized and better funded. With particular focus on the issues of the environment and assisted reproduction, this panel will explore new approaches to regulation that leave open the use of market mechanisms to expand the range of individual possibilities while restraining the inevitable abuses that occur with any profit driven activities.