Thursday is the first event in the Culture of Competition initiative, “Big government and big food vs. food trucks, foodies, and farmers markets.” A panel of experts on the industry will discuss big government and increased regulation’s effects on small businesses, food safety, farms, and food trucks. Timothy P. Carney, a visiting fellow at AEI and a prominent figure in the Culture of Competition Project, spoke to AEIdeas about the event and the initiative as a whole.
Where does food regulation fit in with competition in the industry?
Carney explains food regulation is a way in which bigger companies can subvert competition and crush smaller businesses. He explains how restaurants in Washington are in favor of stricter regulations to ensure their own business is not threatened by smaller food companies or newer business models.
Why do you believe promoting competition in the economy is so important?
Carney observes that believers in the free market confused pro-free market with being pro-business. In addition, there is an increased focus on the problems of “crony capitalism”. The Culture of Competition initiative is an important way to illustrate the difference between competition and cronyism. Ultimately, the economy is poorer due to profit being separated from creating value.
What does the future hold for competition and government regulation in the American economy?
Carney observes the role of government has been on a steady incline. He believes government is clamping down on competition, to the point where businesses are prescribed how they should be making profits. Carney concludes that part of the problem is a lack of a moral defense of capitalism.
Timothy P. Carney will be moderating the event on February 28, 2013. The event can be watched on live stream here.