Big business is actually losing influence over government?

We don’t know that we’d agree with Tyler Cowen’s assertion that business is losing influence. But Cowen is worth reading.

(From MarketWatch)

For instance, corporations spend about $3 billion a year lobbying the federal government…

…To put the $3 billion in perspective, that is about equal to how much General Motors spends on advertisements during a year; Procter & Gamble is higher yet, spending $4.9 billion a year on advertising.