Regulatory Capture
/ˌrɛɡjʊˈlætəri ˈkæptʃər/
Definitions
- (n.) A condition whereby regulatory agencies are dominated or unduly influenced by the industries or interests they regulate, often resulting in decisions favoring those interests over the public interest.
The new policy aims to reduce regulatory capture to ensure fair market competition.
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Commentary
Regulatory capture is a critical concept in administrative law and regulatory policy, highlighting the risk that regulators may prioritize the interests of industry players over the public, which can undermine the effectiveness of regulation.
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