December 5, 2012

TIMOTHY CARNEY: Regulations protect entrenched businesses β€” and the New York Times is ON IT. No, really: “The Gray Lady is on a streak of good articles noting how big government accrues to the benefit of the special interests. After two days of in-depth pieces on state-level subsidies, the Times comes out with an item on how local governments are trying to protect their cabbie industry from the threat of consumer choice.”

It’s the same at all levels. Big business likes regulation — and, often, actually writes the regulations — for the purpose of keeping competition down.