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Posts published in “Regulation”

Regulation is expensive

We often hear of the burden of excessive regulation. When we measure the cost of federal regulation, we find that the numbers are truly shocking.

How much does federal regulation cost? "A very rough extrapolation from an estimate of the federal regulatory enterprise by economist Mark Crain estimates that regulatory compliance costs hit $1.172 trillion in 2008."

Chemical security act could affect Wichita water rates

The United States Congress is considering legislation that aims to increase the security of America's chemical industry to terrorism threats. The legislation, if passed, would require chemical companies to substitute government-mandated processes and technology for their current processes. The post Chemical security law goes beyond protection explains more about this legislation.

Even places that we might not consider to be "chemical plants" could fall under this act.

Regulation can backfire, benefit wrong parties

Regulators -- no matter how well-intentioned, no matter how noble their cause -- usually fail to achieve their goals. Here's a look behind the scenes of how things can work.

The “Watchful Eye” Fallacy

"In his inaugural address on January 20, 2009, Barack Obama said: 'Nor is the question before us whether the market is a force for good or ill. Its power to generate wealth and expand freedom is unmatched, but this crisis has reminded us that without a watchful eye, the market can spin out of control.' To prevent such unfortunate episodes, says Mr. Obama, the market needs to be supervised and regulated by the watchful eye of government. ... The fallacy in this view lies in the assumption that government regulators rise above the human limitations that apply to everyone else. It assumes that while the businessman can be shortsighted, the senator will be farsighted, or that while the banker may be inattentive, the deputy undersecretary will not be."

No end to increasing regulation

Contrary to the popular perception, Bush has been one of the most pro-regulation presidents -- far more so than Democrat Bill Clinton, who, in many ways, was a better friend to the free market than Bush has been.

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