Political Science
A phenomenon where bureaucrats and elected officials move to the private sector after or during their stint in government, and vice versa. The opportunity to work in both the public and private sectors leads to various forms of corruption, including conflicts of interest and regulatory capture. The case of U.S. Federal Reserve heads who go on to work for the private banking industry after their stints at the Fed is the most common example. It is feared that these officials, in their desire to improve their chances of getting lucrative positions at private banks in the future, might tinker Fed policy to favour these banks.
