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Regulatory capture theory has a specific meaning, that is, an experience statement that regulations are beneficial for producers in real life. So it is essentially not a true regulatory theory. Although the analysis results are similar to the Stigler model, the methods are completely different.
The rule of capture or law of capture, part of English common law [1] and adopted by a number of U.S. states, establishes a rule of non-liability for captured natural resources including groundwater, oil, gas, and game animals. The general rule is that the first person to "capture" such a resource owns that resource.
Public interest theory claims that government regulation can improve markets, compensating for imperfect competition, unbalanced market operation, missing markets and undesirable market outcomes. Regulation can facilitate, maintain, or imitate markets. [3] Public interest theory is a part of welfare economics.
State capture is a type of systemic political corruption in which private interests significantly influence a state's decision-making processes to their own advantage.. The term was first used by the World Bank in 2000 to describe certain Central Asian countries making the transition from Soviet communism, where small corrupt groups used their influence over government officials to appropriate ...
Jurisprudence, also known as theory of law or philosophy of law, is the examination in a general perspective of what law is and what it ought to be.It investigates issues such as the definition of law; legal validity; legal norms and values; as well as the relationship between law and other fields of study, including economics, ethics, history, sociology, and political philosophy.
Mark Tushnet, Critical Legal Theory (without Modifiers) in the United States, 13 (1) Journal of Political Philosophy 99 (2005). A.D. Woozley, No Right Answer, Ronald Dworkin and Contemporary Jurisprudence (M. Cohen, ed., London: Duckworth, 1984). Quentin du Plessis, Sources of Legal Indeterminacy, 138 South African Law Journal 115 (2021).
Considered "the first movement in legal theory and legal scholarship in the United States to have espoused a committed Left political stance and perspective," [1] critical legal studies was committed to shaping society based on a vision of human personality devoid of the hidden interests and class domination that CLS scholars argued are at the root of liberal legal institutions in the West. [4]
Competition law requires that firms proposing to merge gain authorization from the relevant government authority. The theory behind mergers is that transaction costs can be reduced compared to operating on an open market through bilateral contracts. [97] Concentrations can increase economies of scale and scope. However often firms take ...