Access every new PS commentary, our entire On Point suite of subscriber-exclusive content – including Longer Reads, Insider Interviews, Big Picture/Big Question, and Say More – and the full PS archive.
From semiconductors to electric vehicles, governments are identifying the strategic industries of the future and intervening to support them – abandoning decades of neoliberal orthodoxy in the process. Are industrial policies the key to tackling twenty-first-century economic challenges or a recipe for market distortions and lower efficiency?
发自伦敦——最近伦敦各大银行与其监管者之间的关系似乎并不特别融洽。因为欧洲银行监管委员会（即将转制为欧洲银行局）最新出台的薪酬管理条例令银行家们备感失落——该条例规定他们未来薪酬的70%将被暂缓发放。试想每年只有300万英镑维持生活，另外700万磅要等到你所赚的利润真正实现时才能发给你。这是多么令人难以接受的事啊！
但在人们对金融危机的叙述当中，规制俘虏理论(Regulatory Capture，指为公共利益服务的政府机构沦为私人机构的保护伞)经常会成为其中一个重要内容。比如英国著名时事评论员威尔·赫顿就将我于1997~2003年（危机起始之年！）主管的金融服务局比作为企业利益张目的“金融同业公会”。而对美国监管部门——以及国会——的某些抨击则更为辛辣，直接把他们说成是投资银行，对冲基金以及所有大财阀在国会山的走狗。
但这些言论中有多少是正确的？正规的监管真的可以被收买吗？
To continue reading, register now.
Subscribe now for unlimited access to everything PS has to offer.
Subscribe
As a registered user, you can enjoy more PS content every month – for free.
Register
Already have an account? Log in