there is a widely accepted phrase used to describe this. It is called "regulatory capture". If you want to sound slightly more academic use the phrase regulatory capture to describe what happens to any government agency that is supposedly created to regulate ANY industry....basically a revolving door between the executives of the biggest companies in each industry and the top positions at the "regulatory" agency.
thanks NWO...I really don't get the down votes. Was I being rude? disrespectful?....has everyone on the thread already read books and paper on the topic of "regulatory capture"? This is a issue that has been studied and documented in many industries. It is important to understand the concept before you wade into debates about how to effectively regulate industries. Even if you are a committed socialist in favor of big government you would want to understand the concept so we can try to limit the worst abuses of government power by big corporations...and if you are free market type then it is also useful to understand "regulatory capture" so you can see how often times big companies will use government to limit competition and build barriers to entry under the public relations strategy of "corporate-government cooperation" or by often funding seemingly populist or socialist politicians.
realistically...ya downvotes for my respectful comment seem to come from shills....voat is not immune...just as reddit wasn't and digg before that.
view the rest of the comments →
gabeh73 ago
there is a widely accepted phrase used to describe this. It is called "regulatory capture". If you want to sound slightly more academic use the phrase regulatory capture to describe what happens to any government agency that is supposedly created to regulate ANY industry....basically a revolving door between the executives of the biggest companies in each industry and the top positions at the "regulatory" agency.
OWNtheNWO ago
And of course the shills downvote the only truthful and accurate comment on the thread.
gabeh73 ago
thanks NWO...I really don't get the down votes. Was I being rude? disrespectful?....has everyone on the thread already read books and paper on the topic of "regulatory capture"? This is a issue that has been studied and documented in many industries. It is important to understand the concept before you wade into debates about how to effectively regulate industries. Even if you are a committed socialist in favor of big government you would want to understand the concept so we can try to limit the worst abuses of government power by big corporations...and if you are free market type then it is also useful to understand "regulatory capture" so you can see how often times big companies will use government to limit competition and build barriers to entry under the public relations strategy of "corporate-government cooperation" or by often funding seemingly populist or socialist politicians.
realistically...ya downvotes for my respectful comment seem to come from shills....voat is not immune...just as reddit wasn't and digg before that.
OWNtheNWO ago
And people wonder why I pop off so much it's really frustrating.