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Regulatory capture is a phenomenon in which a government regulatory agency becomes dominated by the interests of the industry that it oversees. In the United States, the most notorious examples are the Civil Aeronautics Board, which protected airlines from competition; the Interstate Commerce Commission, known as the "trucker's best friend," which restricted competition in transportation; and the Department of Agriculture, which implements policies that are alleged to favor the interests of large corporate farming concerns over those of consumers and family farmers.
[edit] External links
- "Economics A-Z: Regulatory capture" via Economist.com
