Since I can't cover everything in a single article, let's stick with regulation. There are three things you need to know:
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1.Virtually every federal regulatory agency created in the 20th century came into existence at the request of the regulated industry.
2.In virtually every case the regulatory body viewed maintaining industry profitability as its most important goal.
3.In almost every case the bulk of the agency's time was spent not protecting consumers from price gouging, but protecting the industry from "ruinous compe ion."
One of the main points the author was getting at was that the industries themselves were pushing for these regulations in order to stifle compe ion and not to protect consumers. Liberals, the so-called champion of the little guy, were more than happy to go along with this, being the hippocrates that they are.