Orientation among Economic Actors
It is argued that the political actors, most concerned with the control of a given industry are the companies in the same industry. A case study
, in this regard, is in Texas where the oil and natural gas sector is believed to be the single party most concerned with the forms of regulations that the Texas Railroad Commission promulgates and the Texas Farm Bureau is the most interested party as far the state agricultural policy is concerned.
The extent to which this interest orientation among economic actors stretches, it is argued that each regulating agency has been sidelined and as such overtaken by a single and influential interest where only the industry’s interests are represented.
In addition, it is argued that these influential interests manifested in one given industry, by and large, do not cross with the regulating activities in other industries.
For example, referring to the example above, the Farm Bureau never interferes with the Railroad Commission and the oil and gas sector never interferes with the Texas Department of Agriculture.
From this scenario, it can be noted that it is minimal or zero competition over the influence of public policy among economic interests. It is also evident that in such a scenario just one industry or company takes lead, and each industry sticks to its own business and takes a lot of caution not to interrupt other sectors or companies and mainly their public agencies. This indeed can be inferred by logical implication.
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