Administrative Quote by Edward Kennedy
“Regulation has gone astray. . . . Either because they have become captives of regulated industries or captains of outmoded administrative agencies, regulators all too often encourage or approve unreasonably high prices, inadequate service, and anticompetitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical.”
About This Quote
Source Speech: 1995, Senate Hearing on Regulatory Reform, 1995
Regulation often becomes captured by the industries it should control, leading to high prices and poor service for consumers.
In simple terms: Regulation can be captured, harming consumers.
Key Takeaway
Reform regulatory capture.
Themes
regulation
consumer protection
market failure
government policy
Mood
cautious
critical
Type
policy
analytical
When to use this quote
- policy advocacy
- consumer education
- legislative reform
- industry oversight committees
Key Concepts
public choice theory
antitrust law
Questions to Reflect On
- What mechanisms can prevent regulatory capture?
- How can consumers influence regulatory policy?
A Different Perspective
Reforms may face strong industry lobbying and political resistance.
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