Saturday, December 13, 2008

Quote Of Note - John Kenneth Galbraith

"Regulatory bodies, like the people who comprise them, have a marked life cycle. In youth, they are vigorous, aggressive, evangelistic, and even intolerant. Later they mellow and in old age - after a matter of 10 or 15 years - they become, with some exceptions, either an arm of the industry they are regulating or senile." John Kenneth Galbraith

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