Posted by
Laura L. Hollis, JD on Wednesday, March 24, 2010 8:26:47 AM
Walter Williams
gets it right. Those who complain about corporate influence over government need to realize that when government inserts itself into every aspect of business to the point of having the capacity to shut it down altogether (instead of fair regulation), then businesses turn their attention to pleasing government instead of pleasing
us, the consumers.
Government should keep corporate abuses in check. But confiscating the better part of the wealth created by business does not increase regulatory oversight. It just makes founders, directors, shareholders, employees poorer, and creates the incentives to lobby and bribe that Williams describes.