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including those which make, in this case,
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cigarettes, booze, and firearms, but mostly cigarettes,
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have elaborate representation in Washington
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and promote their own interests through the law.
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It's not a big surprise.
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But the tension between the idealized theory of the market
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and that practice is a very strong one.
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Incidentally, Smith was very critical of the corporations,
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which existed in his time,
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and he was critical of them for partly the reason we just articulated:
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That they can control pricing
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and impose their product by that method.