As societies shift from government ownership of major services, such as transport and health, to government regulation, they can swap one failure for another. Regulators, for example, risk being captured by those they are supposed to be regulating. We show how regulatory capture is rife and harmful and examine what can be done about it.
This was Avinash Persaud's valedictory lecture as Gresham Professor of Commerce.
All our lectures are available for free download from the Gresham College website, in video, audio or text formats: gresham.ac.uk
Gresham College professors and guest speakers have been giving free public lectures in central London since 1597. This tradition continues today and you can attend any of our lectures, or watch or listen to them on our website.
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