In David Brooks’ latest NYT column, he argues that Obama’s regulations must be good for the economy (never mind the “Great Recession” we’re in) since:
In the first place, President Obama has certainly not shut corporate-types out of the regulatory process. According to data collected by the Center for Progressive Reforms, 62 percent of the people who met with the White House office in charge of reviewing regulations were representatives of industry, while only 16 percent represented activist groups. At these meetings, business representatives outnumbered activists by more than 4 to 1.
What Brooks doesn’t understand is that corporations being a part of the regulatory process is the problem, that they use regulations to stifle their competition (usually smaller businesses). It’s an element of crony capitalism (has he completely missed the Tea Party and OWS?) and is certainly not healthy for the economy. As just one example, GE used regulation to great effect, lobbying heavily to ban the incandescent light bulb. Of course, they GE was the lead producer of the piggly wiggly flourescent…
Talk about a dim bulb.