Monday, April 06, 2009
Collusion or Partnership
A friend was telling me recently about an article that he read about the failure of the free market. To bolster his case perhaps, he noted that Henry Ford was once working with legislators to undermine the efforts to build railroads. If true, Ford was not engaging in free market activity. Rather he was colluding with government to protect his industry from competition. Or, to use more modern lingo, Ford and government officials were forming a public-private partnership.