FACTOID # 169: Train spotters should go to Australia - Australians have more railway per capita than anyone else on the globe.
 
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Encyclopedia > Regulatory capture

Regulatory capture is an economic phenomenon in which a government regulatory agency becomes dominated by the interests of the industry that it oversees. In the United States, the most notorious examples of this are the Civil Aeronautics Board, which protected airlines from competition; the Interstate Commerce Commission, known as the "trucker's best friend," which restricted competition in the goods movement industry; and the Department of Agriculture, which routinely issues policies that are seen as favoring the interests of large corporate farming concerns over those of consumers and family farmers. Governments have played an important part in shaping air transportation. ... The United States Interstate Commerce Act of 1887, signed into law by President Grover Cleveland, created the Interstate Commerce Commission. ... The U.S. Department of Agriculture, also called the Agriculture Department, or USDA, is a Cabinet department of the United States Federal Government. ... Corporate farming is a critical, negative term that describes the business of agriculture, specifically, what is seen by some as the practices of would-be megacorporations involved in food production on a very large scale. ... The family farm is a farm owned and operated by a family. ...



 

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