The Capture Theory of Regulation and Its Implication to the Regulation of Construction Market

The Capture theory postulates that government regulation is effected in order to meet the needs for regulation of industry, i.e. legislators are captured by the industry, the regulation organization will be controlled finally by the industry, i.e. lawmen are captured by the industry. In order to strengthen the standard of the construction market, based on the capture theory of regulation, the regulation of the construction market is mainly manifested in the following aspects: The regulatory policy goal must be explicit; Constitution of powerful organizations on behalf of consumers; As well as formation of correspondingly balanced mechanism and so on.