Behind every privilege to a particular firm, there is a taxpayer, a customer, or a competitor who ends up paying for it. And those who are privileged today can easily find themselves on the other side of the equation tomorrow.
Tesla Motor Company is coming to learn this lesson the hard way. This past week New Jersey sided with the state’s powerful car dealership lobby to keep the electric car manufacturer from selling directly to consumers.
That’s me, writing over at RealClearMarkets. More here.