Sunday, March 25, 2007

Phrase of the Day

PB learned a new phrase today, while catching up on George Will columns - "rent-seeking." OK, I've actually heard it before, without necessarily knowing what it meant, and I'm sure you business school types are scoffing at PB's ignorance.

It is not true that businesses, as a matter of principle, want to fend off government regulation. Businesses have a metabolic urge to make money, which is as it should be. But when a compliant government gives them the opportunity to use government regulations to enhance their moneymaking, that metabolic urge will overpower any principles about the virtues of free (from government intervention) enterprise.

Sound like anyone we know?

BTW, note the link on the right from the page above for the Pat Sajak columns. Did you know Pat was a columnist? PB is having an enlightening weekend.

9 comments:

scott ballenger said...

Great blog.



We are launching a web forum – primarily focused on the clinical development side of pharma and I wanted to inquire about having your blog on our site in the “what to know” section – I would envision posting your bio as part of the gateway to your blog as well.



Please let me know if you are open to this idea and what other questions you may have.



Thank you.



Scott
scott.ballenger@epharmamindshare.com

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