FreedomWorks cites CEI on the cost of federal regulations.
According to the Competitive Enterprise Institute, federal regulation cost nearly $1.9 trillion in 2017 – approximately $15,000 per family. If the federal regulatory state were its own economy, it would rank as the 10th largest in the world, surpassing the gross domestic product (GDP) of Canada.
Fred Smith is the animating spirit at the Competitive Enterprise Institute. Fred conceived of the idea for an organization that would, in his words, “find a more positive answer to the challenge Joseph Schumpeter laid down in his essay, “Can Capitalism Survive?” He founded the organization and served as president for nearly three decades.
He died at the age of 83 at home in Maryland where he is survived by his beloved wife Fran. Fred was a friend and mentor, an advocate and ally, and an inspiration. His bright light lives on in our work.
Fred Lee Smith
December 26, 1940 – November 23, 2024