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It is not just that large companies are more efficient at dealing with regulation; Large companies actively lobby for regulation as a way of protecting themselv
by penrod 13y ago
It is not just that large companies are more efficient at dealing with regulation; Large companies actively lobby for regulation as a way of protecting themselves from (smaller) potential competitors.
It may be that regulation for the public good is inevitable and desirable, but one cannot assume a priori than any particular regulation exists for that reason.
- rayiner 13y agoI don't think, on the net, large companies lobby for regulation more than they lobby against regulation.
- penrod 13y agoAppeal to authority and all that, but.. "the pressure on the legislature to license an occupation rarely comes from the members of the public . . . On the contrary, the pressure invariably comes from the occupation itself." Milton Friedman "…as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefits." George Stigler