There's Too Much Red Tape (But Only a Little)
I’m very sympathetic to the idea that regulation holds back growth. It’s easy to look around and find examples of regulations that protect incumbent businesses at the expense of the consumer -- for example, the laws that forbid car companies from selling directly to consumers, creating a vast industry of middlemen. You can also find clear examples of careless bureaucratic overreach and inertia, like the total ban on sonic booms over the U.S. and its territorial water (as opposed to noise limits). These inefficient constraints on perfectly healthy economic activity must reduce the size of our economy by some amount, acting like sand in the gears of productive activity.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- This Tax Bill Is a Trillion-Dollar Blunder
- Thank Goodness for Donald Trump
- How Gavin Newsom Got to Be a Front-Runner
- Trump Could Actually Make Democracy Great Again. Don't Scoff.
- Four Points That Make 'Last Jedi' So Fascinating
- Battle Over Bank Watchdog Whiffs on the Law
- Don't Be Afraid of the Net Neutrality Repeal