The Edge in one of its recent "Question" issues ran a piece by Charles Seife on capture, in response to the question "what should we be worried about".
It's a tremendous problem, and not just of government (principle-agent problems in management and business are also rampant). Recommended reading:
And the answer isn't "don't regulate". It's "regulate appropriately and effectively". Just realize that this is an eternal challenge.
NB: Sadly the formatting of the questions and responses is horrible. In particular, navigating the full list by title is all but impossible. I've highlighted the specific essay in question.
It's a tremendous problem, and not just of government (principle-agent problems in management and business are also rampant). Recommended reading:
http://edge.org/response-detail/23674
And the answer isn't "don't regulate". It's "regulate appropriately and effectively". Just realize that this is an eternal challenge.
NB: Sadly the formatting of the questions and responses is horrible. In particular, navigating the full list by title is all but impossible. I've highlighted the specific essay in question.