Amusing little story: A few years ago while I was working at Cato, Robert Levy wrote an op-ed in the Chicago Sun-Times in opposition to giving the FDA the power to regulate tobacco. A board member from the American Cancer Society wrote a letter to the editor in response pointing out that Phillip Morris at the time gave money to Cato, ergo Levy’s op-ed should be taken as little more than the latest example of a free market think tank serving its corporate paymasters.
Except, as noted, Philip Morris supports FDA regulation of tobacco, and has for some time. In fact, it’s usually a safe bet that big business is going to come down in favor of, not against, whatever hot new regulation is being touted by the nation’s editorial boards. Because they can probably afford to comply with it. And it will make it more difficult for upstart competitors to get into the game.