by JL Wall

Just so we’re clear: Congress deciding to de-regulate an industry isn’t necessarily any more of a favor to major corporations than when they decide to increase regulation:

It still might not have passed without the decision by Philip Morris, the industry leader, to accept regulation. The company apparently believes it can thrive better under regulation than its competitors, who complain that it will now be much harder for them to introduce new products to challenge Philip Morris’s dominance.

In fact, now that I think about it more, this might be a terrible example to choose.*  But I’m from Kentucky, so articles about tobacco regulation grab my eye.   (For example: do I really think that rigorous competition is going to result in any major breakthrough other than “Now easier on your breath!” in the tobacco industry? No.  So maybe this isn’t the best way to make my point.)

*Let’s just blame this on the fact that it’s surprisingly hard to jump back into blogging after about a month off.

     Filed under: economics, politics