A new (old) view

For the last 15 years or so I've called myself a centrist (for lack of a better place to be). Mostly a Libertarian, although the whole free market thing makes me nervous because I distrust large corporations and government. I'm probably more comfortable taxing and spending than your prototypical libertarian (as long as we don't spend more than we collect). I can also live with cooperative ventures between commerce and government to solve common problems (the typical northeastern Republican approach).

A couple weeks ago I was introduced to Big Business and the Rise of American Statism, an essay by Roy A. Childs (published by Reason in 1971) which has challenged a lot of my basic assumptions and left me more confused than ever. I wish I'd read this a long time ago, I wonder how my view of the world would be changed.

There is definitely something to the basic thesis, that big business sought regulation to fend off young competitors. And over a period of time, institutions like public utility companies became commonplace to 'regulate' those companies with 'guaranteed profits'. Further, the discussion implies that any argument regarding free markets needs to go back to somewhere before the 1880's. Otherwise, it's influenced by a state colored version of commerce.

The immediate lesson? If you can't beat 'em, legislate against them. Business has been using legal (and otherwise) means to defeat better (but less monied) foes for well over a hundred years now. But... it's bigger than that, there are larger and more complex implications to think about.

Worth reading if you're into that sort of thing.