There's a whole body of conservative economic orthodoxy, #PublicChoiceTheory, that concerns itself with the motives of callow, easily corrupted regulators, legislators and civil servants, and how they might be tempted to distort markets.

But the same people who obsess over our fallible public institutions are convinced that private institutions will never yield to temptation, because the fear of competition keeps temptation at bay.

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Or, as Senator #ElizabethWarren bluntly put it, "adroit influence peddling":

https://www.opensecrets.org/news/2022/06/members-of-congress-call-for-an-investigation-of-intuits-lobbying-practices-amid-mounting-turbotax-controversies/

The neoliberal economists' theory of #RegulatoryCapture is a kind of helpless nihilism, grounded in the #PublicChoiceTheory doctrine that says that regulators will *always* be captured.

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Our very own #AllPowerToTheImagination host Frank Miroslav (@rogermexico) joined Eric Fleischmann on @C4SS’s The Enragés to discuss collective action problems and anti-capitalist movements.

https://theenrages.libsyn.com/collective-action-is-hard-with-frank-miroslav

#anarchism #marxism #publicchoicetheory #econ #leftism #socialism