Written By:
notices and features - Date published:
11:46 am, January 20th, 2012 - 8 comments
Categories: economy, humour -
Tags: smbc
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The site will be off line for some hours.
Thanks Wikipedia –
In economics, regulatory capture occurs when a state regulatory agency created to act in the public interest instead advances the commercial or special interests that dominate the industry or sector it is charged with regulating. Regulatory capture is a form of government failure, as it can act as an encouragement for large firms to produce negative externalities. The agencies are called “captured agencies”.
What’s the term for agencies that are deliberately designed from the outset specifically to be captured, like ACT/John Key’s EPA?
Corruption.
Maritime NZ is the poster child for that one here.
probably CAA as well for the aviation crowd.
Then there is Mine Safety part of Labour dept. That wasnt so much capture as cut off at the knees.
Productivity commission springs to mind or doesn’t that count.
What about the fishing part of MAF?
How does Dad end up getting the power to decide the cost of labour? I appreciate the point, but the analogy does rather fall down at that point. Now, if the Dad had clearly been democratically elected and had run on a policy of $3 an hour for mail services… đ
The question you have is that of legitamacy. And when it comes to parental child economic relationships thats very interesting indeed.