Schnatter: Free enterprise benefits society
The Courier-Journal discusses why Papa John's CEO John Schnatter supports free enterprise by referencing data from a report by CEI.
Simply look at the explosion of occupational licenses. According to a July report from the White House, more than a quarter of American workers now need these government-mandated permission slips for their jobs. Depending on the state, the list includes barbers, tree trimmers, manicurists, and other professions that operate quite well without such bureaucratic micromanagement. The Institute for Justice estimates the average occupational license takes nine months of education or training and more than $200 in fees. As the Obama White House notes, these burdens reduce employment opportunities and increase the cost of goods and services. This hurts those who are looking for work and those who want to start their own entrepreneurial experiment.
So does the overregulation that now strangles the economy. According to the Competitive Enterprise Institute, federal regulations alone cost nearly $1.9 trillion in 2014 through "lost economic productivity and higher prices.” This is a crucial component behind the U.S. Census Bureau’s recent report that business deaths outnumber business births, a new phenomenon that calls into question whether the pursuit of happiness is still possible.