regulatory capture
"Regulatory capture is like when the inmates take over the asylum, or the chief of police answers to the local crime syndicate."
"The econ-speak for a scenario in which public institutions start acting in the interests of the private firms they're supposed to be regulating is regulatory capture. An analogy: regulatory capture is like if Lebron James was allowed to pay for the privilege of officiating the NBA finals."
" When buying and selling is regulated, regulators are the first thing to be bought and sold.
The only way to stop govt from giving money to the politically powerful is to not let govt have money.
Regulatory capture is like conservation of momentum; if the situation satisfies the constraints, the results will happen, no matter how much one might like otherwise, no matter how much better things would be if those results didn't happen."
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