regulatory capture

Definition

When government agencies created to regulate industries become dominated by the very interests they're supposed to control, turning watchdogs into lapdogs. The fox doesn't just guard the henhouse—it gets appointed henhouse inspector.

Example Usage

Critics argued the FCC suffered from regulatory capture, with former telecom executives writing rules that benefited their former employers.

Origin

Identified by economist George Stigler in his 1971 article 'The Theory of Economic Regulation,' earning him a Nobel Prize.

Fun Fact

The revolving door between regulatory agencies and industries is so common there's actually a cooling-off period in many countries before regulators can work for companies they oversaw.

Source: Regulatory policy terminology

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straw poll

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legislator

An elected official whose primary job is to create laws that the rest of us have to follow, theoretically representing the will of the people but often representing whoever donated to their campaign. These governmental architects spend their days debating, amending, and voting on legislation, when they're not busy explaining why they voted against their own stated principles. Every country has them, and every citizen loves complaining about them.

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authorization bill

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impeach

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Advanced

Overton window

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