I often cite to people that one of my favorite pieces of statuary is outside the Federal Trade Commission. It is an explanation of what the free enterprise system is and how it is supposed to work. It is a rather dated piece of sculpture, goes back I think to the Depression era, and it shows that very powerful horse straining at the bit, trying to charge forward, and a rather muscular farmer holding the horse back. You are not quite sure, looking at the piece of statuary, whether the horse is going to win or the farmer is going to win, which is about as good a visual expression as we have of our free enterprise system. We want a robust free enterprise system that is charging forward, creating new ideas and innovations in order to allow jobs to be created and wealth to be created. At the same time, we realize we have to have that regulator in place to make sure it doesn't run wild, in the sense that everyone else could be adversely affected by it.
On the recordMay 17, 2010
Editor's note · Context
Dodd discusses the importance of the Federal Trade Commission and the balance of regulation in the free enterprise system.
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