The abandonment of due process by the ASRB in favour of fast-track approval of AARF-submitted standards was an example of which regulatory theory?

Question

Quizplus · Accepted Answer

The situation described in the question is an example of regulatory capture theory, which refers to the phenomenon where a regulatory agency becomes too closely aligned with the interests of the industry it is supposed to regulate, resulting in lax enforcement of rules and regulations. The ASRB's abandonment of due process in favor of fast-tracking AARF standards suggests that the agency has been captured by the interests of the AARF industry.

The Abandonment of Due Process by the ASRB in Favour