Quotation of the Day…

(Don Boudreaux)

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… is from page 8 of Robert Higgs’s great 1987 book, Crisis and Leviathan:

The government’s regulatory agencies have created or sustained private monopoly power more often than they have precluded or reduced it. This result was exactly what many interested parties desired from governmental regulation, though they would have been impolitic to have said so in public.