… is from page 61 of Nobel-laureate economist George Stigler‘s October 1962 Journal of Law & Economics paper, with Claire Friedland, titled “What Can Regulators Regulate? The Case of Electricity” – which is reprinted as Chapter 5 of Stigler’s 1975 collection, The Citizen and the State: Essays on Regulation:
But the innumerable regulatory actions are conclusive proof, not of effective regulation, but of the desire to regulate.
