Folks who pay attention to policy for a while will come across the term “regulatory capture,” which describes the circumstance in which inevitable incentives lead government regulators to begin serving, rather than restraining, the big players in the industry they oversee.  Their main audience is the regulated industry; their main prospects for future employment are within it; and it’s easier to access much of the information they need if they build relationships within it.

Economist Luigi Zingales suggests that the dynamic applies to economists, as well:

While not all data economists use are proprietary, access to proprietary data provides a unique advantage in a highly competitive academic market. To obtain those data academic economists have to develop a reputation to treat their sources nicely. Hence, their incentives to cater to industry or to the political authority that controls the data are similar to those of the regulators.

Will Baude expands the concept to legal academics:

… some of the other mechanisms do seem to apply to law professors, too, such as the desire to make money consulting and witnessing, the desire to ascend to government office, or the fact that conclusions that are congenial to the powerful are more likely to implemented by the government or other powerful entities.

An obvious next step is to apply it to journalists.  We can look to Obama Press Secretary Jay Carney for an example.  Locally, I noted, last year, when laid off Providence Journal photographer Connie Grosch transitioned to the office of Democrat Congressman David Cicilline.  (She’s since left the position.)  Former Projo business writer Neil Downing is now a Chief Revenue Agent with Rhode Island’s Division of Taxation.  I’m sure the list goes on, limited only by my relatively short time paying this much attention.

All of the elements of “capture” are present for journalists who cover any aspect of government.  Much of their work is about and most highly trafficked by insiders.  The most obvious (and remunerative) use of their highly specific knowledge outside of journalism is within government.  And it is easier to get information — whether exclusive tips or basic data — when one has a working relationship with the people who hold it.

Nobody’s at fault, here, but it is a problem with our civic system of which we should be aware, especially when following the news.

(Via Instapundit.)