What are some examples of corporations using regulation in order to create barriers of entry and thus eliminate competition?
An argument that I’ve heard my whole life in libertarianism is that we don’t need federal regulation agencies, or any regulation agency for that matter, because profit-seeking would ensure that corporations have the best interest of the consumer in mind. If a product harmed or did a disservice to the consumer, a competitor who did would out-sell them with a product that did have their best interest in mind. When government agencies are entrusted with ensuring industry standards, corporations with enough capital will attempt to eliminate the competition by advocating for regulation that creates barriers of entry for the competition. Can you provide any examples of a corporation that lobbied for more regulation so that it could create barriers of entry for competitors?
Article from r/Libertarian: For a Free Society