Government Regulation is Good for Business

[ashling]

CBS News
http://www.bnet.com/blog/salesmachine/government-regulation-is-good-for-business/12608

Yes, you read that right. Government regulation is good for business…depending on how you define the term “business” and on how the regulations are written.

***

A lack of government regulation is almost always to the advantage of big businesses and to the disadvantage of small businesses. Such a condition always results in the formation of monopolies and the suppression of smaller firms, even if those firms might be highly innovative.

As the great Adam Smith pointed out: “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.”