Regulatory capture
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In politics, regulatory capture is a form of corruption of authority that occurs when a political entity, policymaker, or regulator is co-opted to serve the commercial, ideological, or political inter
Interstate Commerce Commission (ICC) as Barrier-to-Competition: Applications-to-Operate vs In-Operation
George Stigler
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George Joseph Stigler was an American economist. He was the 1982 laureate in Nobel Memorial Prize in Economic Sciences and is considered a key leader of the Chicago school of economics.
Regulatory capture
…Huntington (1952), Laffont & Tirole (1991), and Levine & Forrence (1990). The theory of regulatory capture is associated with Nobel laureate economist George Stigler, one of its major developers. The likelihood of regulatory capture is a risk to which an agency is exposed by its very nature. This suggests that a…
George Stigler