I have become increasingly interested in the futility of regulating capitalism. Of course, this is considered heresy for those on the broad left so many of whom pin their hopes on this or that politician as the savior of labor or of a socially responsible capitalism. But as this essay from an articulate conservative suggests, the word corruption does not begin to describe the cozy relationships between powerful rentseeking corporate interests and the government. I was particularly intrigued by his comments on private equity – noting how depenendent the success of these firms is on government connections.

Enronization