When government intervenes in the economy, it typically rewards the large and politically connected, hurting the rest of us.
Here are some stories on this theme that have come across the wire this week:
Governors pass through the revolving door a whole lot. This shows how valuable an investment politics is for business.
Larry Ellison, CEO of Oracle, which makes lots of money helping the federal government collect the data on your communications, thinks NSA data collection is “great.”
Seattle has taxi laws, the purpose of which is to protect a taxi monopoly from the ravages of competition.
If occupational licensing was generally valuable, wouldn’t nannies be licensed? They’re not, because the consumers (people rich enough to afford a nanny) have more clout than the providers. This shows you who is served by occupational licensing, Pascal Emmanuel Gobry explains.
Boeing says it couldn’t be competitive without U.S. taxpayer-backed financing from the Export-Import Bank.
“An Alon USA Energy refinery in Louisiana was the only one — out of 143 — exempted from an EPA mandate. Why?” Hint: political connections. Kimberly Strasell, WSJ.
A couple dozen liberal congressmen and congresswomen took the position I may favor — opposing a new regulation on brokers. But the letter they signed against the reg turned out to be crafted by an industry lobbyist.
- The company that profits from speed-camera tickets is accused of doctoring the pictures to reduce the risk that the photos will be challenged.
- Sacramento is fining a small business $900 for advertising on sandwich boards. (See video above.)
- New York’s liberal mayor candidate thinks Michael Bloomberg’s film subsidies are great, but that they don’t go far enough.