That’s the subject of my latest Bloomberg column, just to clarify the context for newcomers that I think more than half of all current laws are negative. Anyway, here are some of the problems:
Consider the relatively straightforward idea, popular in some Republican circles, of firing large numbers of federal officials. There would be immediate opposition, not only from the workers themselves but also from US businesses.
Businesses need to make plans, and often communicate with regulatory agencies about what might be allowed. The Food and Drug Administration needs to approve new drug prescriptions. The Federal Aviation Administration needs to approve new air routes. The Federal Communications Commission needs to approve new versions of cell phones. The Federal Trade Commission and the Department of Justice need to give the green lights to the merger. Federal Deposit Insurance Corp. it needs to approve plans to close down failed banks. And so on.
If those and other agencies were stripped of their crutches, many American businesses would be crippled. You may argue that this fact itself is proof that there is too much regulation, but the fact remains. Shutting down much of the government’s regulatory resources will make it harder, not easier, for the private sector. In addition, regulation can give way to litigation, and the judiciary is clearly less efficient than bureaucracy.
And this:
The basic paradox is this: Government regulations are embedded in large, unmanageable and complex institutions. To dismantle it, or to reverse it significantly, will require a lot of state power – that is, state power. However, deregulation is critical of the state’s greater power, as it has the potential for more state regulatory measures. Think of it this way: If someone told a libertarian government expert that, in order to bring back the state, it must first be given more power, he would probably run away screaming.
Recommended, the piece has many good points of interest.
The post Why the termination of the law is so difficult appeared first on REVOLUTION on the Edge.
Source link