This year marks the 50th anniversary of the theory of regulatory capture—the influential idea proposed by Chicago Booth’s George J. Stigler that regulators put in place to keep industries functioning well and fairly can be influenced to act on behalf of the industries they’re regulating, at the expense of consumers or other stakeholders.

On this episode of the Capitalisn’t podcast, hosts Luigi Zingales and Bethany McLean discuss excerpts and ideas from a conference celebrating this theory, hosted in April by Booth’s Stigler Center for the Study of the Economy and the State.

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