Institutionalized Capture

Institutionalizing Regulatory Capture as Regulatory Practice

From: Corporate Rules

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In this chapter, Mark Winfield examines how the past twenty-five years have seen widespread instances of outright deregulation, wherein the rules that applied to regulated activities were significantly weakened or removed. The models for much of what remains of the regulatory functions of the state, under various labels of “smart,” “responsive” and “reflexive” regulation, have placed increasing emphasis on the notion of “partnerships” between regulatory agencies and the industries whose operations they are to oversee. In effect, what once might have been described as regulatory capture has been widely incorporated into regulatory practice in Canada. In this chapter, Winfield argues for the need to find different paths forward, ones that better balance the interests of the public and those of regulated entities.

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