this post was submitted on 25 Aug 2024
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A Boring Dystopia
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That's not what regulatory capture means. Regulatory capture is when the industry being regulated basically owns the agency writing and enforcing the regulation. Nothing they don't want regulated gets regulated and they can use regulation to prevent new competitors. How the FAA in the US defers to airlines and airplane manufacturers is often used as an example.
Okay, so I used the wrong phrase but I think we all agree about the spirit of what I was attempting to communicate, right?
Yeah.