May 6 2013
There are several motives behind new regulation in the General Assembly. One is to protect the public and another is to protect the monopoly. I normally look at new regulation with great suspicion. This picture hangs on the wall in our office in the Gressette Building, just to reinforce how we view the role of government. As you’ll agree, free market forces are much more effective than nanny government regulation.
“To widen the market and narrow the competition is always the interest of the dealers. The proposal of any new law or regulation of commerce which comes from this order ought always be listened to…with the most suspicious attention. Adam Smith – The Wealth of Nations, Book 1, p. 267