More on Making the Rules

A recurring theme on this blog is firms trying to influence regulation to limit competition. Here's Stossel with a number of examples:

Every day, federal, state and local governments stifle small businesses to privilege well-connected incumbent companies. It's a system of protectionism for influential insiders who don't want competition. Every locality has its share of business moguls who are cozy with politicians. Together, they use the power of government to keep competition down and prices high.

HT: Newmark's Door

(Side note to any EMBA students reading this blog: are you happy now?)