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Regulatory Capture, Teacher Unions, and CDC Abuse

Estimated Reading Time: 4 minutes

In his seminal article in 1971 on the economic theory of regulation, the Nobel Laureate George Stigler of the University of Chicago argued that government agencies were often “captured” by the industries they were designed to regulate. Before Stigler, the common view was that noble regulators worked assiduously to correct “market failures” with regulation, in order to […]