Tag: Government Regulations

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This week, our politicians formed Israel 35th government after 508 days and three rounds of elections. Israelis watched sadly the swearing-in of 34 ministers with fake titles and unknown functions and another 12 deputy ministers scratching for meaningless jobs. This government is nothing short of a gargantuan monster, bathing in a life of affluence, and […]

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I am a safety professional. I am familiar with plenty of cases where people did not follow the rules and people ended up dead. Trevor Kletz has the highly readable What Went Wrong? and Still Going Wrong – find them in your library for some stories that will raise the hair on your neck. Alternatively, […]

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This AEI Events Podcast features Fredrik Erixon and Björn Weigel, coauthors of “The Innovation Illusion: How So Little is Created by So Many Working So Hard,” hosted by AEI’s James Pethokoukis. Erikson argues that the declining pace of innovation in Western economies during the past few decades can be attributed to the increasing dominance of financial institutions over capitalists, corporate bureaucratization, globalization that reduces competition in certain markets, and restrictive, opaque regulations.

Erikson and Weigel are joined by AEI’s James Pethokoukis and George Mason University’s Tyler Cowen in a panel discussion. Dr. Cowen argues that even though economic growth has slowed, there is more invisible innovation in society. The discussion is moderated by AEI’s Stan Veuger.

The Personal Cost of Regulation

 

shutterstock_247868038We hear occasionally about the tremendous burden government regulations place on the economy. According to FreedomWorks, the petty tyrants of the alphabet agencies place well over $1 trillion per year of added expense on the nation.

This is important, but it misses how that money is not merely one giant glob of currency ripped from the economy. Each dollar stands alone as money pulled from an individual’s pocket, as food never laid upon a table, as a vacation never taken, and as a Christmas present that will never sit beneath a tree.

It’s easy to see why regulators want to regulate. As Kevin Williamson wrote in 2010:

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Last week I was in the hospital for some testing.  This Thursday evening, I got a phone call from an employee of that hospital asking me to confirm my Medicare ID, etc., information the hospital already had or they would not have admitted me.   I asked why she was calling me at such a […]

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