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What Regulatory Capture Actually Looks Like
Regulatory capture occurs when an industry successfully manipulates the government agencies tasked with overseeing it into becoming its own protectors.
What: The article defines regulatory capture as the process where government oversight bodies become dominated by the interests of the industry they are supposed to regulate, effectively shielding firms from competition or liability.
Decoder
- Regulatory capture: An economic theory where a regulatory agency, created to act in the public interest, instead advances the commercial or political concerns of the special interest groups that dominate the industry or sector it is charged with regulating.
Original article
Regulatory capture is when the government slowly gains more and more power to regulate an industry and eventually becomes the industry's protector.
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