In this chapter, we argue that the current paradigms of regulation are not productive for the growing complexity in society. First we explain why these traditional paradigms leads to problems and what these problems look like. Then we demonstrate how regulators try to cope and struggle on. New approaches are being explored by several scholars and practitioners, but encounter substantial challenges which seem to stem from the traditional black and white thinking of traditionalists. We conclude by arguing that new approaches, although hard to implement, are promising and may have significant social benefits.