Visualizing the growth of federal regulation since 1950

[Chris]

(https://www.youtube.com/watch?v=p5-5a6Q54BM)


At the end of the video the speaker, Patrick McLaughlin, provides a link to an article he wrote on this topic: The Unintended Consequences of Federal Regulatory Accumulation. I'll cite one section:

HOW REGULATIONS HURT THE LABOR MARKET

The rapid growth in the number of federal rules has likely hindered the struggling labor market. An increasing regulatory burden can harm workers in various ways. As former Bureau of Labor Statistics Commissioner and Mercatus Center senior research fellow Keith Hall explains in a recent study:

• Regulation adds to costs, increasing prices for regulated goods and services and reducing the final amount bought and sold. As production declines, so does the demand for workers engaged in production.
• This shrinkage in the size of the market can decrease employment not only in these regulated industries but also in industries downstream that use the now more expensive goods and services.
• More regulation also leads to a shift of workers from production to regulatory compliance jobs, which reduces overall economic efficiency.
• Even if displaced workers eventually find new employment, they often face permanent losses in lifetime earnings, which can be as high as almost three years of the previous annual income. This is largely due to skill mismatches between the jobs lost and the new jobs created in the economy.

Well, one more quote: "According to a World Bank study, moving from the 25 percent most burdensome to the 25 percent least burdensome regulatory environment (as measured by the World Bank’s Doing Business index) can increase a country’s average annual GDP per capita growth by 2.3 percentage points."

[Peter1469]

I have seen that video before (or similar). Good stuff.

[Chris]

Yes, it's couple few years old, but the article added value.

[donttread]

(https://www.youtube.com/watch?v=p5-5a6Q54BM)


At the end of the video the speaker, Patrick McLaughlin, provides a link to an article he wrote on this topic: The Unintended Consequences of Federal Regulatory Accumulation. I'll cite one section:



Well, one more quote: "According to a World Bank study, moving from the 25 percent most burdensome to the 25 percent least burdensome regulatory environment (as measured by the World Bank’s Doing Business index) can increase a country’s average annual GDP per capita growth by 2.3 percentage points."

Just another federally dominated country in a world full of them. Nothing special anymore. But the death warrant of the republic was signed much earlier in 1913