This. This should be required reading for everybody. With your help we can end the relentless, smug campaigns to raise awareness.


Regulatory capture

Everyone in government should have to write out the following paragraph longhand, say, 100 times, every time some new or amended regulation comes up for a vote:

In regulated industries, consumer protections have a nasty habit over time of turning into industry protections—in this case, artificially keeping supply lower than demand, so drivers don’t have to improve their price or performance to stay in business.  Everyone makes the same amount of money, but that means no one has any incentive to innovate.  Consumers, well, up until now, consumers haven’t had a real voice in considering the trade-offs.

The full article, from The Washington Post is here.