The 18th century philosopher and economist Adam Smith observed, “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices.” That view is one justification for giving federal agencies so much money, control and discretion over commerce and other aspects of our lives. And when it comes to research on the risks of products or activities, because the government is here to protect us, so the thinking goes, the research it funds or performs is more trustworthy than that emanating from the private sector. Consider the following scenario. Read the full article on Jeff Stier’s website.