In order for any chronimistic society to function, there must be a powerful and fundamentally independent arm of the government responsible for providing a baseline of employee recompense, a stringent evaluation of goods and services and protection against monopolization or non-competitive conglomeration. Although all of the systems I have described thus far as the basis of chronimism are capable of existing independent of a particularly puissant regulating body, such a facet of the civil administration would be necessary in pragmatic terms to assist with the introduction of my economic system to the real world. Regulations are the gap between theory and reality, a manifestation of my economics and philosophy and the arsenal required to defend them.

Primarily, the Head of Regulations will be charged with the effective maintenance of the chronimistic economy. This means that his primary objective will be the calculating of the objective value of resources, goods, services and labour and then enforcing those values unto employers and traders. That being said, this department will not offer totally binding economic governance, but will only provide minimum and maximum values. Once Regulations knows the actual value of a good, the vendors of that good may not sell it for more than the actual value, but may sell it for less in order to better compete for market share. Also, employers cannot pay their employees less than their calculated worth, but may overcompensate if they are in short supply of talent. Regulations cannot and will not force businesses to sell products at a particular price nor compensate employees at a specific rate. The principles of the free market, particularly those of supply and demand will still be recognized to some degree, only Regulations will seek to control and mitigate its effects so that the speculative and disastrous trading and compensation styles of the past are not doomed to be repeated.

The true test of a Regulations officer will then become calculating the absolute maximums for prices and the absolute minimums for salaries. Salaries can be determined through strict adherence to my previous chapters involving the subject. Common labourers are paid based on the amount of time the average worker with current technology would require to complete their task. They are paid for that length of time regardless of how long the activity actually necessitated. White collar workers are paid for their time multiplied by the formula of working hours in education period plus working hours in actual recertification period over working hours in the average recertification period. Police officers are paid by the same formula as white collar workers, but are given the additional multiplier of percentage of their jurisdiction's population which are law abiding citizens . Should the need arise to evaluate employee compensation in other manners over time, Regulations will have the ability to alter these formulas or provide exceptions as necessary; however, the baseline for common labourers can never be changed, for as they are the foundation of an economy, their salary structure (time is considered money) is also the basic structure of a chronimistic society. As described above, private employers may overcompensate from these levels to attract skill, but there are some exceptions to the regulation of under-compensation. Firstly, government employees can be under compensated at any time in accordance with free market principles in order to reduce government expenditure and discourage patronage appointments as well as burgeoning bureaucracies as employees will be more attracted to the private sector. Second, self-employed persons may also pay themselves less than their worth so that they can be more competitive in the market. This will encourage more employees to leave their employers and begin their own firms, where employment costs are cheaper and will also discourage expansion, increasing the number of independent firms and increasing competition.

In order for this system of employee compensation to function, Regulations must constantly re-evaluate the baseline productivity of common labourers as well as periodically test for recertification. Regulations officers must be apprised to current developments in technological progress, because if workers can finish a task faster with a device that they did not invent, they are performing less labour and should be compensated less. Even in our current economic system, speciality blacksmiths are paid more than welders, as technology, although increasing productivity, reduces craftsmanship and labour costs. This evolution must be reflected in employee compensation. So too must Regulations be knowledgeable of any regressions or shortages that would make common labour more difficult. If a person's job is to mine coal, for instance, and coal is less available than previously, it will require more time to find and refine the same amount of coal as previously. As proven in chapter two, the coal is not more valuable because it is rarer, but the employee must require more effort to mine and those costs, which by law cannot be reflected in price, must be removed from profit margin instead. This will encourage business owners to rectify problems that affect their worker's productivity negatively, as shortages in their product will not increase profits but reduce them.

The recertification of the educated workforce will be a far less demanding occupation of Regulations, but is still crucially important to the maintenance of a perfect economy. Primarily, the Regulations department will need to determine how often it tests the white collar workforce. It can be expected that specialists in innovative or extremely complicated fields such as the sciences will need to be tested more regularly than those in the humanities. Similarly, average recertification periods need to reflect the actual value of an occupation to the economy. Those trades with shorter average recertification periods must be those that are the most valuable or whose practitioners hold the most knowledge and are the most evolving. Equally, those with who are the most knowledgeable in their field, or on the cutting edge of research, should be able to score better on those exams, increasing the multiplier by which their work is worth. Recertification tests need to be written in such a manner and tested between the appropriate time windows to create these conditions.

The absolute maximum of price values is the foundation of a low-inflation economy that maintains social evolution, as industrialists are not allowed to pass on costs to consumers, but must invent new manufacturing techniques or create efficiencies in order to maintain the same profit margins. Regulations will not only need to calculate the maximum prices allowable on the markets, but must also have the powers required to enforce those edicts. The calculations for salaries and prices will be inextricably connected due to the chronimistic understanding that nothing holds value without human labour. Thus, the maximum price of a good would be the sum of the human labour required to mine the primary resource, transport and refine said resource, manufacture the particular product, transport the product to market and finally sell to sell that product. Therefore, the method of price calculation would be the averages during each stage of production per a particular unit. This would be done by measuring the overall industrial productivity in a specific unit of time. For the resource, Regulations would summate the total hours by all geologists searching for the resource, all miners unearthing the resource and all the workers required to refine said resource in a year with the current technology. The human labour used to produce the equipment for these processes will also be included in the sum. This would then be divided by the total number of tonnes of the refined resource produced at the end of that year. Regulations would now know the true cost of that resource in terms of human production per year. Then, one would calculate the human labour involved in producing the vehicles, fuel for those vehicles and human piloting of the vehicles in transporting that resource over the entire industry in a year, divided again per tonne. Afterwards, the manufacturing processes, factories and human industries involved in creating the product are summated over the entire industry and divided per tonne of finished product. Transportation is added up again whilst moving that product to market before the summation of the building of store fronts and labouring of vendors to sell the product to consumers per tonne of product sold. Then, the costs of each of these stages of production are added together and divided by the number of products in a tonne to create a final maximum value per product. Now, it can be unfair to measure the costs of production on only one year since the incredibly expensive processes and equipment involved in industry are expected to pay themselves off over a much longer period of time and therefore it is up to the discretion of Regulations to determine over which time period it measures the average industrial capacity of each particular sector. It can be expected that industries which require more investment and longer periods of reimbursement will be measured over longer time spans than their less expensive cousins.

There is, of course, a paradox developing in this system of price analysis. Since the basis of all finished products are resources, but resources require equipment to unearth and refine which themselves are finished products, it then becomes impossible to actually determine the costs of anything without some products being given predetermined prices. In order to solve this, when a chronimistic system is first being established, some baseline costs can be accessed throughout the use of averaging current capitalistic prices. It would be acceptable to divide the current average price for a product by the average hourly wages of the workers used in every stage of producing that product to calculate the value of that product in human hours, as a chronimistic society demands. Such prices would include profit margins, however, and should only be used as when absolutely necessary, as they will not reflect the true value of that particular product. Once chronimism has been introduced on a wide scale for a long period of time, there would be no need to do this, as the old value human value of products can be used to calculate the new absolute value of those products.

Regulations should only be obligated to reassess prices during fantastical market shifts or the invention of new products or during the introduction of chronimism so that all products can be given an actual value and not the assumed capitalist one. Changes in secondary industries will be passed down to the customer naturally, as evolutions in manufacturing practices would allow entrepreneurs to accept more profits for their work or lower prices in an attempt to defeat the competition. Should resources become more abundant or more easily refined with less waste, industrialists may also decide to take more profits to unseat their competitors, but in cases of resource scarcity, this cannot be allowed. Affording industrialists the ability to alter supply and be given greater profits simply encourages the creation of cartels such as OPEC or the destruction of product in hopes of higher prices. The Great Depression is rife with stories of farmers burning stockpiles of oranges or throwing boatloads of potatoes into lakes and posting guards to stop starving peasants from fishing them out in order to achieve better prices. Chronimism never rewards any man for collusion or waste. Thus, Regulations should not change the absolute maximum of prices due to resource scarcity, as this will encourage industrialists to solve the problem of scarcity instead of exploiting it for higher profits. Only when an industry deemed vital to the function of humanity is threatened with collapse is Regulations able to alter prices with the changes of resources and even then, the department must take such actions with extreme caution. The purpose of chronimism is to evolve the perfect economy and human society and therefore if an industry is unable to maintain enough innovation to adapt to changing resources or market demands, it should no longer deserve to exist. Although this concept does work in theory, however, Regulations must exist in more practical terms. Because of this, if, and only if, an industry which mankind cannot exist or innovate without is threatened, Regulations has the ability to either readjust product values so that the industry can become profitable or surrender the industry to Services where the entire industry will be managed at a zero-profit margin by the government. Again, this must be done with the aforementioned objective of maintaining human society, and must never be undergone to protect luxuries or other unnecessary amenities. For this reason, it is probably best for Regulations to only interfere in the agricultural, transportation and scientific fields which will always be necessary for the maintenance and evolution of human society.

Regulations must also not set maximum prices on products invented after the introduction of a chronimistic economy. Once an industrialist has undergone the risk necessary to purchase the raw materials, establish a method of production and transport a new good to market, he should be entitled to whatever profit he can derive from it. This is simply because there is no objective fashion to calculate the true value of his invention and of his ingenuity and therefore it would be cruel and unusual for the state to impose on him any meagre recompense. If someone invented a new product and was immediately forced to sell that product at no more than its absolute value, there could be no way to derive profit. Therefore, there would be no incentive for inventing a new product. As such, the absolute maximum value rule must be applied to other industrialists who enter the market after the product has been invented. This means that in order to realize a profit, they must create a new manufacturing or transportation or resource extraction technique that the inventor of the product did not create themselves. Since they will probably be forced to sell their goods at a lower rates, it will put pressure on the original inventor to also lower his prices or innovate his product in another manner to maintain the same profit margin, thus continuing to evolve society.

Regulations must also adopt a more investigative model with a wide reaching surveillance and analyst arm. Regulations will be entrusted with uncovering those allegedly defying anti-trust legislation by either colluding with competitors or growing one's business to the extent where competitors cannot possibly emerge. Generally, given the amount of capital available and the higher taxes associated with having more employees, a business should naturally never be able to expand to the point where it be destroys its competition; however, in some industries which have small land or labour costs, it is possible that the profitability of a corporation can become so huge that it could swallow it's adversaries and not be subject to crippling payroll taxation. As such, it would be compulsory to Regulations to prove that either the owners of said businesses were collaborating to set prices or that the amalgamation of two companies or the expansion of one would be detrimental to the evolution of the industry overall. Although it would be comparatively easy to prove collusion, there would have to be some significant mathematical reasoning required to determine if a business becoming too large was truly dangerous, especially since chronimism would ideally encourage entrepreneurs to be as successful as possible. 

The powers of Regulations must be distributed in such a way that the department is able to effectively institute its aims but where it cannot arbitrarily create maximum product values and minimum wages meant to benefit the allies of particular state actors and annihilate the opponents of others. History is rife with examples of how those with absolute power over trade or business practices exploited their offices for personal gains. Chronimism is diametrically opposed to a commissar class being that the ideological basis of my system is that every man, woman and child earns their keep, and so Regulations and the powers bestowed to it must be regulated themselves. First, Regulations will never have the ability to prosecute or convict individuals for breaking trade rules. A particular wing of Regulations may investigate those allegedly overcharging on merchandise or underpaying on salaries, but once the department has collected enough information for a conviction, the case must be given to the Justice department for prosecution. Equally, it will also be the responsibility of Justice to determine the actual value of the offence. Being that my previous chapter on Law and Order showed how chronimistic societies allocated objective monetary values to each offence, the prosecution of trade criminals should be no different. The offence can be calculated in nominal terms as the amount of value being stolen from consumers or workers and then the convict must repay this fee twice, once to the court and once to the victims. The financial disincentive of trade crimes will be enough of an impetus to avoid these crimes should Regulations be diligent in its investigation.

In order to make the process of finding regulations offenders simpler, chronimistic societies would be benefited by moving away from the process of cash transactions. The use of electronic banking, purchasing and trading creates a noticeable trail through which Regulations can easily utilize create a picture of illegal activity. Naturally, having permanent access to this data provides a real security concern as a great deal of personal information can be garnered through analysing the financial transactions of individuals. In order to protect the privacy of citizens, then, Regulations would only be given access to this data if it could prove to Justice that there was a reasonable suspicion of a particular corporation or individual having committed trade offences. There is always the possibility of corruption through bartering, however, being that a chronimistic society does not ascribe value based on supply and demand, frequently fenced items such as precious metals or gems will quickly lose their value, making the most valuable items (industrial machinery, intellectual property, automobiles, etc.) those which are most difficult to smuggle.

Oversight of the Regulations department will fall under the jurisdiction of Justice which will appoint an independent auditor whose office will investigate possible corruption and malfeasance within Regulations. The auditor will seek to uncover the sincerity of Regulations accounting, any partiality or biased attitudes towards particular industries or industrialists, and any possible bribery of regulations agents. Again, the auditor will have no ability to prosecute on these charges, but will turn over files of misconduct to Justice in order for such offences to be adequately punished. Corruption within in the auditor's office will be investigated by the Auditor General whose office I have described in chapter three. An independent budgetary officer will also be appointed by the legislature to report to the legislators and the four department heads in order to ascertain whether the department is appropriately spending government finances or if Regulations is not being efficient with government funds in its research and investigations. This will ensure that Regulations is held beyond reproach and does not develop a chronimistic economy into some form of trading vassalage as was seen in through Lenin's New Economic Policy or Putin's St. Petersburg Trade Commission. Every man must earn his way, even if he is charged with regulating the economy itself.