“It is argued that regulators are frequently captured by those whom they are supposed to regulate.”

Source: Economics Of The Welfare State (Fourth Edition), Chapter 4, State Intervention, p. 88-89

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Nicholas Barr23

British economist 1943

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“You are going to approve one of the biggest tax cuts in history. You are going to approve one of the biggest tax increases in history. You are going to drive business out. Your regulations are a disaster, and you're going to increase regulations all over the place. And by the way, my tax cut is the biggest since Ronald Reagan. I'm very proud of it. It will create tremendous numbers of new jobs. But regulations, you are going to regulate these businesses out of existence. … The things that business as in people like the most is the fact that I'm cutting regulation. You have regulations on top of regulations, and new companies cannot form and old companies are going out of business. And you want to increase the regulations and make them even worse. I'm going to cut regulations. I'm going to cut taxes big league, and you're going to raise taxes big league, end of story.”

Donald J. Trump (1946) 45th President of the United States of America

2010s, 2016, September, First presidential debate (September 26, 2016)

“It is argued that regulators are frequently captured by those whom they are supposed to regulate.”

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