Regulatory Capture

SEC and Revolving Doors: Q&A with Eric Ben-Artzi, the Deutsche Bank Whistleblower Who Rejected a Multimillion Dollar Award

ProMarket interviews Eric Ben-Artzi, the former Deutsche Bank risk officer turned whistleblower who rejected an $8.25 million award from the SEC.  In May 2015, Deutsche Bank...

Combatting External and Internal Regulatory Capture

External and internal capture may be reduced through a more logical division of labor between Congress and agencies. In these hyper-partisan times, one is hard-pressed...

Regulators as Validators

Special interest groups can use their influence over regulation to water down not just potential legal sanctions but also potential reputational sanctions. What deters corporate...

The Elusiveness of Regulatory Capture

Regulatory capture is hard to pin down, its elusiveness stemming from four principal factors. Nearly everyone sees regulatory capture – and rightly disdains it. And...

Regulatory Capture is Not “Inevitable”

“Capture” has become a self-fulfilling prophecy of economists who turn their students into sure-to-fail regulators. A Wall Street Journal editorial asserted the “inevitability” of...

Prosecuting Corporate Criminals

Prosecutions of individual corporate criminals can, in fact, be successful—and are critical for attaining justice. It is difficult to escape the inference that the Great...

Regulatory Capture, Ancient and Modern

Regulatory capture's antecedents in political thought—which date back to ancient Greece—inform the modern concept. Until recently, the term regulatory capture seemed stale, a mid-20th century...

Making it Look Like a Struggle

 For capture to be sustainable, the regulator has to find ways to be perceived as being tough on the regulated without really hurting them. The...

Preventing Regulatory Capture

When a regulation’s benefits exceed its costs, simplicity and interdisciplinary processes are essential to reducing capture. Regulatory capture arises when regulatory decisions advance private interests...

Challenges in Measuring Regulatory Capture

We as a society have failed to settle upon what we think are the measurements, the correlates, the red flags, and the warning signs...

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The Fall of American Manufacturing and the Rise of Health Care

In an excerpt from his new book The Next Shift, University of Chicago historian Gabriel Winant explores how deindustrialization and the decline...

Antitrust and the FTC: Franchise Restraints on Worker Mobility

As currently formulated, antitrust’s rule of reason approach is not the best tool to deal with vertical noncompete agreements that limit worker...

How to Make the Market for Real Estate Agents More Competitive

Delinking buyer and seller commissions will make markets for real estate agent services more competitive, allowing buyers and sellers to negotiate commissions...

Dislocation, Dislocation, Dislocation: Covid, the Retail Crisis, and REITs

In an excerpt from his new book Retail Recovery, retail expert and author Mark Pilkington explores the impact of the sector's decline...

Addressing Climate Change Must Begin with Verifiable Carbon Accounting

Robert Kaplan and Karthik Ramanna propose a new approach for verifiable accounting on indirect corporate emissions that would apply to all corporations,...

The FTC Was Correct to Withdraw the Vertical Merger Guidelines

The 2020 Vertical Merger Guidelines, now withdrawn by the FTC, did not represent sound merger policy, argues Steven Salop; rather, they were...

The Chicago Planning Program and the Interdisciplinary Tradition of the Chicago School

The Chicago Planning Program, an interdisciplinary program that operated at the University of Chicago between 1947 and 1956, is an often-neglected part...