Professor Stigiltz’s “Progressive Capitalism” is Neo-Socialism

Capitalism Magazine cites CEI’s 10kC report.

As for government regulation of the private sector, the Competitive Enterprise Institute estimates in its latest “Ten Thousand Commandments” report (May 2019) that the cost of regulatory compliance is around $1.9 trillion a year. And the Federal Register comes to almost 70,000 pages of rules and regulations that private business must meet. This $1.9 trillion in compliance costs is equal to about 10 percent of the country’s GDP, and is about 43 percent of what the federal government will spend in 2019.

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