Is The Private Sector Supposed to Serve Only Government? Of Course Not
For example, Wayne Crews of the Competitive Enterprise Institute, in his latest compendium on federal regulations (Ten Thousand Commandments), alone estimates that their compliance and economic impact costs total approximately $1.9 trillion annually, a sizeable quantity when compared to our annual gross domestic product of $16 trillion. This results in a remarkable comparative relationship of such costs amounting to one-eighth of our national output. These costs virtually are dead-weight losses to the economy with no significant benefits to gross product.