David vs. Goliath in Business

George Stigler's Theory of Regulation, published in 1971, argued that large industry groups dominate small people and use the system of regulation to gain huge preferences for themselves. However, the dynamic of this theory can work in two directions depending on the politics. The big guy can take over the situation and force everyone to comply, but the little guy can be like a wasp and come after the big guy, too small for them to swat down. #GeorgeStigler #TheoryOfRegulation #InterstateCommerceCommission #CartelProtectingDevice #RateReductionDevice #Politics #BigGuy #LittleGuy #Wasping #Elephant #Shorts