REGULATORY CAPTURE, FUKUSHIMA NUCLEAR DISASTER, AND OVERPRICED ELECTRICITY IN PHILIPPINES

Donghyun Park

Chapter 18 in Capitalism in the 21st Century:Why Global Capitalism Is Broken and How It Can Be Fixed, 2019, pp 77-80 from World Scientific Publishing Co. Pte. Ltd.

Abstract: The phenomenon of the government regulator being unduly influenced by the companies and industries it is supposed to regulate is known as regulatory capture. That is, instead of serving the public interest, the regulator is captured by the interest group and serves that interest group’s vested interests rather than the public interest. For example, if the government agency in charge of public health is captured by the tobacco industry, the rules and regulations against smoking in public will be weaker than warranted by the risks that secondhand smoke poses for non-smokers. There are plenty of real-world examples of regulatory capture…

Keywords: Capitalism; Globalization; Inequality; Entrepreneur; Financial Industry; Government; Socialism; Market (search for similar items in EconPapers)
JEL-codes: A1 F00 F6 N2 P16 (search for similar items in EconPapers)
Date: 2019
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