Sunday, September 16, 2007

Stigler's Scoop

In today's New York Times, one headline reads: "In Turnaround, Industries Seek U.S. Regulations."

Turnaround? Actually, it's just a new chapter in an old story. In a landmark article 36 years ago, George Stigler wrote: "as a rule, regulation is acquired by the industry and is designed and operated primarily for its benefit."

1 comment:

Anonymous said...
This comment has been removed by a blog administrator.