Tag Archives: regulatory capture

We need a revolution to cast off monopolies and restore entrepreneurial freedom. First of two excerpts from “The Myth of Capitalism.” Bloomberg OpinionCompetition Is Dying, and Taking Capitalism With It Jonathan Tepper See also a short review of The Myth of Capitalism A lot of times, when you read reviews about books on the economy, you end up wondering what the reviewer’s ‘priors’ are as people like to say in economics. You read the review and wonder where the biases of the reviewer...

Much government regulation does not fit the logic of Stigler’s theory of anti-competitive regulatory capture. In a new book, Steven Vogel of Berkeley argues that the theory of regulation needs to account for the phenomenon of captured regulators bent on deregulating—and that the critical consideration facing regulators is no longer how to enhance competition, but how different governance models favor different actors. Rent capture.ProMarket — The blog of the Stigler Center at the University...