Maleka Momand writing for Medium cites Wayne Crews’ “10,000 Commandments.”
The U.S. economy loses trillions of dollars every year to regulatory compliance costs, and state and federal lawmakers are launching efforts to reduce red tape as a mounting body of research points to the negative effects of over regulation on socioeconomic well-being. Unfortunately, these policies are unlikely to deliver meaningful change without the right tools and attitudes within government. In this essay, we advance Argive’s vision for how we can transform the U.S. regulatory scheme through smart tech infrastructures and metric-driven processes. By providing government stakeholders with workflow technology based on best-practices from the private sector, we can enable a more efficient and effective rulemaking process. Even the best reform policies need the support of good tech products, and Argive is here to deliver.
In addition to creating high barriers to entrepreneurship, regulatory accumulation takes a significant toll on U.S. economic well-being. A 2016 report from the Competitive Enterprise Institute estimates the annual cumulative cost of regulatory compliance to be $1.9 trillion. Another study from the Mercatus Center examining the cost of cumulative regulations finds that economic growth in the United States has, on average, been slowed by 0.8 percent per year since 1980 due to the cumulative effects of regulation.
Read the full article at Medium.