Tuesday, January 17, 2006

More On Wal-mart

Beyond LB's brilliant declaration against the Maryland Wal-Mart Law, Arnold Kling has this brilliant paragraph:

Liberals see the market as an arena in which evil corporations inflict their greed on innocent victims. I wish you would see that motives matter less than consequences. I wish you could see that greed is at work when laws are passed that regulate markets, because regulations always produce winners and losers. I wish you could see that those winners and losers are often not who you think they are. I wish you could see that competitive behavior and free choice are forces that operate in the market as a check against greed. Finally, I wish you could see that greed is most difficult to restrain when it is exercised through the medium of government.

That really gets to the core of it. The rest of the piece is dead-on about what will really happen because of the Wal-mart law, and why it's likely to hurt everyone involved.