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Economics
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2 Nov 2020

2. One can relate the problem of special interests in politics relating to an environmental issue. This problem is called _______________. 

a. regulatory oversight

b. regulatory capture

Booster class
Microeconomics
Skill
Understanding Special Interest Politics
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Raushan Raj
Raushan RajLv8
2 Nov 2020

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Related questions

What is the major difference between the capture theory of regulation and the public interest theory of regulation?

A. The public interest theory of regulation holds that regulators seek to benefit the general public through regulations. The capture theory of regulation holds that no matter what the intent of the regulators, those who are supposed to be regulated will end up controlling the regulatory agency.

B. The public interest theory of regulation predicts that the outcomes of the regulatory process will tend to favor the regulators instead of either business interests or the public. The capture theory of regulation proposes that industry representatives are more heavily represented at regulatory hearings because they have been captured by announcements of hearings.

C. The public interest theory of regulation predicts that the regulators will act in their own self-interest. The capture theory of regulation proposes that regulators once worked in the industry and are therefore captured by their previous employers.

D. The public interest theory of regulation holds that the interests of the regulated will be served, whereas the capture theory of regulation holds that the public interest will be served.

A common criticism of Texas politics relates to the role of special interests in shaping state politics -- assess that claim. Think about what you see as the most powerful interest groups in Texas (remember, interest groups can be broadly defined, special interests and political parties are big ones, but can include informal and non-political groups like work-places, schools, neighborhoods, churches, etc.). Do the current interest group and political environment in Texas effectively represent your particular interests/needs/demands in government? Are there effective avenues for new interests to develop and sway the process? Are there better ways of ensuring the representation of your interests, or does voting and the current system suffice?

(2)

If you had to argue that the diamond business in South Africa was a natural monopoly, what reasons would you give? Why would you think that the South African government is keen on keeping the diamond monopoly intact?

(3)

Explain why it is that high-powered regulation encourages cost cutting by the regulated firms while low-powered regulation does not. What is meant by high and low-powered regulation of monopolies or dominant firms?

(4)

What is regulatory capture? What is Rent-seeking? Why do you think that regulatory capture is so prevalent in representative democracies where market power exists among large firms?

(5)

Explain what we mean is when we say that the existence of monopoly prevents: inefficient use of resources (factors of production

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