Sean King

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Knoxville, Tennessee, United States

Friday, July 4, 2008

Yep.

Megan McArdle: There's also this dodgy belief, fervently embraced by many liberals advocating regulations--"Look, even a big business head who would be regulated believes it's a good idea! It must be!" Au contraire, mon frere. The heads of big businesses often love big new regulatory bodies, because they have the resources to best negotiate a complex regime. The end result of this kind of radical regulation is usually that the big companies capture the regulator and use it to shut out competition.

This is a point that I will be also be making in future posts.

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