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regulatory capture
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regulatory capture


The United States voted against forming The United Nations Human Rights Council because of inadequate safeguards to prevent regulatory capture by abusive nations.
  the phenomenon in which a government regulatory agency set up to act on behalf of the public, instead acts on behalf of those it is supposed to be regulating
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Notes:
Regulatory agencies are often created with much fanfare after a problem comes to the attention of the public. Eventually, the public loses interest, but the industry being regulated remains very interested. A standard high stakes "pressure group" problem arises.

Industry members with a high-stake interest in the outcome of regulatory decisions focus their resources and energies in attempting to gain the policy outcomes they prefer, while members of the public with only a tiny stake in the outcome ignore it altogether.

Perhaps over many years, the industry successfully lobbies to get regulators appointed who they like and to get regulations that subsidize or protect their industry from competition instead of protecting the public.
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Samples:
  • The United States voted against forming The United Nations Human Rights Council because of inadequate safeguards to prevent regulatory capture by abusive nations.
  • It’s a classic case of regulatory capture in which rather than changing the regulation, they just stopped enforcing it.
  • After a period of regulatory capture, deregulation often helps the public as it did in airlines and trucking.
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Associated words [difficulty]:   regulatory capture , earmark [6] , pressure group [8] , geopolitics [8] , pressure group [8] , whistleblower [9]
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Most commonly used in these subjects:   Nature & Ecology, Public Policy & Politics, Business
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