Once upon a time, all you needed to be an organic farmer in America was a pair of Birkenstocks and a commitment to keep your products chemical-free. Those idealistic days of the 1990s are long gone. Today, organic farming is a $30 billion industry dominated by Big Agriculture, backed up by Uncle Sam and a federal rulebook that gets longer every day.
In the halls of Congress, the rhetoric never changes: Vote against new regulations and you side with big business; support tough rules and side with the little guy. But history tells us that, far from restraining the power of big companies, an overbearing regulatory bureaucracy benefits them just about every time. Last month, the White House released e-mails detailing the deal it cut with PhRMA — the drug industry’s lobbying arm — to win support for Obamacare. And the size and market share of America’s biggest banks have only grown since the passage of Dodd-Frank banking regulations.