Excessive regulation is one of those perennial Washington issues, which makes sense given that Washington pops out new rules like chocolate bunnies. A report inbound from the National Association of Manufacturers pegs the cost to the economy of regulatory compliance at over $3 trillion annually.
On a brighter note, though, some observers appear optimistic that court victories to limit Administrative State ambitions that have exceeded its congressionally delegated bounds are in the offing. But what if hyper-regulation remains a fixture in the economy and society regardless?
That’s where we appear to be headed. The regulatory liberalization and restoration of laissez-faire to which some may aspire cannot survive given the sweeping federal subsidy regimes that increasingly envelop the economy, and that grow alongside regulations.
Read the full article on Forbes.