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Lawrence Baxter talks about avoiding the “regulatory capture trap”

In a piece for the American Public Media show “Marketplace,” Rethinking Regulation at KIE faculty participant Lawrence Baxter spoke about the dangers of regulatory capture, when regulation officials are corrupted by the businesses they are meant to regulate. Baxter, the¬†William B. McGuire Professor of the Practice of Law at Duke, noted that one way to mitigate regulatory capture is by ensuring that regulatory bodies utilize experts who aren’t exclusively brought in from the business sectors in question:

You have to have people with different backgrounds who do have expertise, and it’s not Wall Street that has a monopoly over expertise, though it often likes people to think that.