Tuesday, July 19, 2005

Schwarzenegger on Supplements

Did Arnold veto legislation to regulate dietary supplements because he stood to gain from ads in magazines he has relationships with?

Or did Arnold veto the legislation because he knows more about supplements then the rest of the legislature put together?

There are costs and benefits of having industry insiders in government. They may take action to benefit themselves or colleagues. They also have insider information that they can use for the benefit of government in contracting and other decisions.

I don't have a problem because Arnold took the position of government non-involvement. It would have been entirely different if he had taken a position of government intervention. The worst offenses are when politicians help some businesses at the expense of others, or when they create regulation to protect existing businesses from new competitors. There is a difference between pro-free-market and pro-big-business.


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