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A Capitalism for the People: Recapturing the Lost Genius of American Prosperity by Luigi Zingales

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12

SIMPLE IS BEAUTIFUL

There are no easy answers but there are simple answers. We must have the courage to do what we know is morally right.

—Ronald Reagan

TRYING TO RESTRAIN THE ESCALATION OF LOBBYING through social norms can go only so far. We need to do more to solve the problem of legislators and regulators being captured by special interests. One intriguing solution, advanced by legal scholar Lawrence Lessig, is to reduce our elective representatives’ need for corporate donations through campaign finance reform introduced by a constitutional convention.1 But even if that proved feasible, it wouldn’t solve the entire problem. Legislators and regulators need information to do their job. This is why even the most public-spirited regulators ...

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