Gambling tycoon Sheldon Adelson wants to outlaw online gambling, which threatens his casino industry. So with the help of Sen. Lindsey Graham (R, SC), he has formed an alliance with Southern Baptists, who also oppose online gambling because they oppose gambling in general, including what goes on in Mr. Adelson’s casinos. So we have a gambling magnate using gambling opponents to help him eliminate competition.
But this paradox is not new. There was also an alliance between bootleggers and (again) Baptists in promoting Prohibition. In fact, the phenomenon has a name in the field of economics: The Bootlegger/Baptist theory of regulation. [Read more...]