Ted Kennedy Quotes
Regulators all too often encourage or approve unreasonably high prices, inadequate service, and anti-competitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical.
Edward M. Kennedy, U.S. Senator (Democrat, MA), Senate Hearings, 1975
Sourced by: Eigen's Political and Historical Quotations
Railroads and other large markets shared dominated by a few large corporations.
These appear to be the first economic regulations of New England. Note that although there was a Governor of the Colony, such economic issues were considered to be fundamentally religious in nature. Therefore Cotton—the leading cleric of the colony—was called upon to in effect legislate on the subject. Ironically, this is not terribly different from the theocracy in Iran or some other Muslim countries of today where like some of the early American Colonies, there was no separation of church and state.
A justification of some mergers that would lessen competition was that the consumer would not be harmed as the merger will produce cost savings that could be passed on to the consumers. However, others argued that if the competition were reduced there would be no pressure on the merged companies to pass any savings along to the consumer. However, in this opinion, Justice Douglas set forth a basic principle of regulatory law: Even though the merger might have some consumer benefits, that is still no justification for doing.
See {642189} where Sherman explained some of the reasons for the law.
Brandeis was U. S. Supreme Court Justice Louis D. Brandeis, 1856-1941, who wrote that competition would control prices if only healthy competition could be maintained—the problem was resolved by both increasing competition and much more stringent regulation of corporations.
To the modern reader utterances such as this from a Conservative Prime Minister seem astounding. However, the Great Depression existed in Canada as well as the United States, and Franklin Delano Roosevelt was not the only world leader who would reach the conclusion that business and capitalism must be profoundly regulated and the system changed if it was to be saved.
Collection of Spoken Words of the Prophet. Ironically, despite the reverence with which words of the Hadith are accorded in Islam, from time to time Muslim theologians and authorities have attempted to establish “fair prices” despite this free market view of the Prophet.
Edward Moore Kennedy was an American politician and lawyer who served as a U.S. Senator from Massachusetts for almost 47 years, from 1962 until his death in 2009. A member of the Democratic Party and the Kennedy political family, he was the second most senior member of the Senate when he died and is the fourth-longest-continuously-serving senator in United States history. Kennedy was the younger brother of President John F. Kennedy and U.S. Attorney General and U.S. Senator Robert F. Kennedy, and was the father of Congressman Patrick J. Kennedy.
