American businesses had pushed the federal government to place strict regulatory standards on imported food and drug products as a form of veiled protectionism. The result was, as [Gabriel] Kolko noted, the Food and Drug Administration (FDA). Big businesses also understood that costly federal regulation would disproportionately harm their smaller competitors. Thus while claiming to be “socially responsible” by favoring regulation of their own industries, businesses really supported the creation of monopoly power in their industry.
—Thomas J. DiLorenzo, Hamilton’s Curse