Republican presidential candidate Mitt Romney said today that "I want regulators to see businesses and enterprises of all kinds as their friends, and to encourage them and to move them along."
So, the purpose of government regulation is to aid business. The FDA, the CPSC, the CFPB, and other regulators should not be axed as, say, former candidate Rick Perry may have favored. No, they exist to affirmatively help business.They are all just variants on the Department of Commerce!
In a Romney Administration, we'd no longer have to debate whether there is (or is not) regulatory capture by big business because regulatory capture would be the governing principle.
Let's see whether the Democrats will respond with a different theory of regulation.