Regulatory Capture

Australian PwC Scandal Reeks of Regulatory Capture

Accounting firm Price Waterhouse Cooper was recently forced to sell its government consulting business after using privileged information to help firms evade taxes. Richard Holden examines the scandal and explains why the response from the Australian Tax Office points to regulatory capture by the big 4 accounting firms.

How Big Tech Uses Net Neutrality To Subvert Competition

A decade of evidence suggests that Open Internet policies have delivered the opposite effect.

Should We Regulate the Revolving Door of Regulators?

Is the revolving door of top regulators one of the reasons for a lack of good regulation? Based on her recent research, Elise Brezis...

Corporate Political Responsibility in a Captured Economy

Most attention on corporate governance has focused on businesses’ social responsibility. Claudine Schneider and Ed Dolan write that businesses need to take into account...

A Directorship at a Federal Reserve Bank is Good News for Banks, but May be Bad News for the Fed

Far before the collapse of SVB, I provided systematic evidence that banks appear to benefit from their directorships on Federal Reserve Banks. The fact...

Letters that Matter: How Interest Groups Shape Financial Legislation

Members of Congress are inundated with an avalanche of correspondence on a daily basis. But what persuades them to heed the call? Recent research...

Industrial Policy Is a Seductive Mirage

Industrial policy was once so out of fashion that it was jokingly called “the policy that shall not be named.” Now it’s back in...

The Mechanisms of Regulatory Capture

To mark the 50-year anniversary of George Stigler’s seminal piece, “The Theory of Economic Regulation” we are publishing a new eBook examining his theory’s...

Fear of Punishment Distorts Bank Financial Reporting

When bank employees are afraid of punishment from regulators, they are likely to conceal information about their faulty decisions. This in turn distorts the...

Delaware: The State Where Companies Can Vote

Adapted from What’s the Matter with Delaware: How the First State Has Favored the Rich, Powerful, and Criminal—and How It Costs Us All, published...

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