White Rock Kitchens

The Grumpy Economist: Predictions.

Advice? If you run a business, get a lot of lawyers and lobbysists. He who writes the regulations will make a lot of money. He who does not will lose.  Make sure you make the right political contributions and don’t say anything critical of those in power. You will need a discretionary waiver of something, and these rules are so huge and so vague, the regulators can do what they want with you. Don’t be the one to get “crucified” (EPA). We live in the crony-capitalist system that Luigi Zingales describes so well. Live with it. Political freedom requires economic freedom, taught us Milton Friedman. You don’t have the latter, don’t expect the former.

Italics mine.

The problem for so many of us who work in small businesses is that we have no resources available to influence the regulations. We can barely pay the rent most months. Hiring lobbyists is out of the question. We can only try to adjust to the problems coming down the pike.

Tags: Crony Capitalism

This entry was posted on Wednesday, November 7th, 2012 at 10:13 am and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.