{Empty title} | The Nation

In a college course "Interest Group Politics" that I took in 1967, the first day's lecture was this: at federal, state or local, levels, here and anywhere else around the world, regulating boards and commissions and their legislative committees are always dominated by people who gained their expertise within the industry being regulated. Short "reform" waves are always followed by their return to power and, collectively, they can wait longer--they don't lose their interest and drift on like reformers do.

The only long-term way around that is not to regulate.

I've seen this principle in action hundreds of times in the past forty-two years.