Companies and employers are constantly being regulated – by their customers, employees and competitors. That means that if a company gets “bad marks” from its “regulators” it loses revenue, loses its employees to other businesses, or even goes out of business,. Of course government does have a place in regulating the marketplace. Sometimes some companies get such a market share that they can forcibly restrain trade, and some employers are predators that take unfair advantage of their workers. But regulations should be used only when market forces and the criminal laws are ineffective. So we need far less than regulation than we have today. Not only is it a question of better results for more people, it is a question of Liberty!
Shockingly, and as shown in the August/September issue of Reason Magazine, the number of pages in the Code of Federal Regulations has increased from 19,335 in 1949, to 134,261 in 2005 and 175,268 in 2014. This has resulted in such high compliance costs that per capita income in our country would have been about four times higher in 2011 had the 1949-style of regulations still been in effect. In other words, there has been a hidden tax of about $15,000 per year per household caused by government over-regulation. The beneficiaries of these regulations are often the status quo vested interests (or crony capitalists) who use the regulatory system to block innovation and competition. But the losers are the innovative entrepreneurs, as well as their customers – namely the rest of us – who could have purchased lower cost and higher quality goods and services. One thing Libertarian candidate Governor Gary Johnson would do as president would be to institute a non-partisan commission to find laws and regulations that are duplicative, unnecessary and even harmful and push for their repeal. Not only would this help all of us as customers, it would also be a strike for Liberty.
Judge Jim Gray (Ret.)
2012 Libertarian candidate for Vice
President, along with Governor
Gary Johnson as the candidate for President
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