Saturday, June 20, 2015

Regulation and the decline of entrepreneurship

See The Logic of Bad Policies byLiya Palagashvili. Liya Palagashvili is an affiliated scholar with the Mercatus Center at George Mason University and the law and economics fellow at the Classical Liberal Institute at the NYU School of Law. Excerpt:
"Rep. Dave Brat, R-Va., spoke openly about this incentive structure faced by politicians at an event held jointly by the Mercatus Center and the Fraser Institute last Thursday and titled "Economic Freedom in the World: Where Does America Stand?" The event focused on the perils of heavy regulation and its impact on entrepreneurship and U.S. economic growth. Panelists discussed their recent findings, which were published by the Fraser Institute in a book titled, "What America's Decline in Economic Freedom Means for Entrepreneurship and Prosperity."

The research cited indicates that the regulatory burden on businesses in the United States is increasing and, as a result, entrepreneurship is declining. Sen. Ron Johnson, R-Wis., shared his experience as a CEO of a plastics manufacturing company and explained that the multi-layered rules and regulation are an enormous cost of doing business. The decline of entrepreneurship poses a problem because a thriving business climate is necessary for long-term economic growth."

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