Quote Of The Day: When A Regulatory Agency Fails

14 Jan, 2009 by John Hawkins

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“Of course, when a regulatory agency fails, the usual response is to make it bigger, not abolish it. Economist Robert Murphy notes, “In the private sector, when a firm fails, it ceases operations. The opposite happens in government. There is literally nothing a government agency could do that would make the talking heads on the Sunday shows ask, ‘Should we just abolish this agency? Is it doing more harm than good?'” — John Stossel