On Regulatory Capture

Thursday 26 August 2010 - Filed under Dumbassery + Government + Regulation

There’s a good piece at Downsizing Government which sums up the woes of MMS/oil industry partnerships.

Also, I’ve never quite understood why regulatory capture is described by Leftists as a free market failure, rather than a government failure. If government regulators are charged with making sure that industry players abide by sets of rules and restrictions, why is it industry’s fault that those regulators don’t do their jobs?

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2010-08-26  »  madlibertarianguy