Regulatory capture is a problem in this country. It happens pretty easily. Politicians can’t be experts in everything, so they turn to actual experts for help with regulating various industries. The experts tend to be those who have already enjoyed some measure of success in their field. The regulatory suggestions that these experts give politicians tend to make life easier for the already-established experts and harder for those competing with them. This kind of thing happens all too often and leads to gross regulatory overreach, such as Uber working to ban private ownership of self-driving cars. How do we prevent this or, at the very least, strike it down after the fact? Join James Harrigan, Antony Davies, and special guest Robert McNamara from the Institute for Justice as they discuss this and more on this week’s episode of Words and Numbers.
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Foolishness of the Week
Topic of the Week: Occupational licensing and regulatory capture
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James R. Harrigan is CEO of FreedomTrust.
This article was originally published on FEE.org. Read the original article.