Rather than simply regulating, governments can improve the behavior of industries by making them more transparent and boosting civic engagement—not as a substitute for better regulation but as a complement to the existing systems. We believe effective regulation and, by extension, effective governance come from a multistakeholder approach where transparency and public participation are valued more highly and weigh more heavily in decision making.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Rather than simply regulating, governments can improve the behavior of industries by making them more transparent and boosting civic engagement—not as a substitute for better regulation but as a complement to the existing systems. We believe effective regulation and, by extension, effective governance come from a multistakeholder approach where transparency and public participation are valued more highly and weigh more heavily in decision making." in the context of "" to mean that wisdom is timeless.