Too Big to Prosecute Replaces Too Big to Fail
I was comfortable with economics. I understood competition. I understood monopoly firms trying to take over smaller firms. I’m not comfortable with large firms trying to take over the government and vise versa. That equals my concern for laws that are so complex a jury can’t understand them and prosecute a firm for breaking them. Such laws are also so complex you can’t prove you’re innocent. Too big to fail has been replaced by too big and too complex to prosecute.
I’m easily convinced that government and industrial firms are better when they are smaller. Large government breeds large industrial firms to match. Both increased regulatory burden and regulatory costs drive up the efficient size of the firm. Both favor the large competitor over the smaller and faster competitor.
I am NOT against size or wealth. I’m simply skeptical of the virtue of size. I fear both once a large or wealthy firm is entangled with the government.