“Notable & Quotable,” The Wall Street Journal, 9/10/2015. (This is another lost posting, recently discovered.)
William Leggett, The New York Post, 11/21/1834:
“. . . a Government may at pleasure elevate one class and depress another; it may one day legislate exclusively for the farmer, the next for the mechanic, and the third for the manufacturer, who all thus become the mere puppets of legislative cobbling and tinkering, instead of independent citizens, relying on their own resources for their prosperity.
“[The Government] then becomes the great regulator of the profits of every species of industry, and reduces men from a dependence on their own exertions, to a dependence on the caprices of their Government.”
Any long-term investor in stocks already realizes this, that a company’s profits and success depends more on government manipulation (intentionally or inadvertently) than on their CEO’s ingenuity.