There are many regulations that cost loads of tax money, much of which are completely unnecessary, and that only benefit the special interests. Suggesting that regulation has done good for minorities and children can be a misconception, as markets alone have the power to improve working conditions and consumer services on their own behalf. Also note that in regions of higher quantities of enforced and highly restrictive regulations, crime is significantly higher. Whether or not conditions were already dire in those areas prior to regulation, the stats have shown that the situation has not necessarily improved as falsely suggested by many progressives. We must also consider that a grave majority of legislatures worry primarily of their pensions, when a vote is to be made. Rep. Mike Bost of Illinois went on an epic rant on having to vote on thousands of pages worth of bills by certain due dates, without having much time to completely comprehend them in order to make full informed decisions on the house floor. This is a huge problem in the American bureaucratic system today. So much for a 'free' country.
Scott S. Why would a bank lend money to someone who could not afford to pay it back? It used to be that liberals complained that banks only loaned money to people who already had a lot of it and didn't need it. But now that we have a central bank printing up fiat paper money and lending it to the other banks at low interest rates, FDIC insurance repaying depositors if the bank acted irresponsibly, previous bailouts, Fannie and Freddie buying up mortgages, providing banks with more money to replace what they had loaned out, and all sorts of other moral hazard policies, banks felt safe in lending money to anyone with a pulse. They used to have standards. The people who could only afford $90,000 they would have loaned only $90,000. Now, because of everything the government has done to help "promote home ownership", they don't care.
Separate government from economy compleatly. Government intervention is the cause of corruption, economic crises, and bad education. The reason is the fact that the essence of government is force and it should be banned from entering relationships between people. Anywhere government acts - someone is forced, exploited, enslaved.
The government is putting regulations to help people. Much of this regulation is actually needed and helps the average person, some isn't needed ofc. The reason regulation is needed is bc of capitalism, and companies cutting corners with workers, work environment, and safety of goods. This is one of the many reasons I am a Marxist, bc that step is removed.
Look at the complexity of US tax codes vs frech or other OECDs, are we to say that the rest are less advanced today? let's not kid ourselves, regulation is a political currency. Leeways and savehaven in exchange for support between corporations and government.
This has to be put in to context. Regulations are necessary. We have a lot more things going on in the world today than we did in 1950. Just saying we do or don't need 18 times more without proper context is just propaganda and pandering to a base if uninformed people.
klstrat996 ok than explain the economic slowdown and don't say its because redistribution of wealth because in the 1860s to 1910 we had a 0% income tax and grew just as fast as we did in the 1950s the only other reason we could be slowing down is because banks are always guaranteed money so they are more riskier and make stupider decisions because there is no invisible hand to keep them honest.
Without federal regulation, companies used to dump waste wherever they could, and they used small children to repair industrial machinery. Regulation is a good thing, as it protects the american workers from the industry. I'm not anti-capitalist in any sense of the word, but I acknowledge the fact that a corporation is driven only by the economic principle. If it is more profitable to ruin the environment or their workers' lives, then they will do that. It's the way they operated before regulation, and it's the way the will operate again if you eliminate regulation.
And you think there is no limit to what should be regulated? Nobody is arguing that there should literally be no regulation, but we solved things like using children in factories about a hundred years ago. A little medicine will heal you, too much will kill you. And you are wrong about how companies would operate without many of the current regulations in today's world. Social media and awareness and the resulting litigation wouldn't allow it. Things like that used to go unchecked because almost nobody knew about them. Everybody knows about everything now.
People didn't have children work in factories because overwhelmingly everyone in the past were all assholes. Its because families had their children join in on supporting the family because they economically had no other choice. The simple increase of overall personal wealth, the great majority of people stopped having their kids work because no one NEEDED to do that anymore. Regulation only got rid of a tiny percentage of child labour, capitalism acutally got rid of the overwhelming majority.
Thomas Meadows As new information comes to light, new information is needed. I have sitting on my desk an MSDS from a prominent oil company that says that crude sweet oil IS a carcinogen on page 1 and IS NOT a carcinogen on page 2. New data demands new regulations. New conditions demand new regulations. I'm sorry but the argument over 'size' of the government is so childlike. Like, do you want an itty bitty baby government, or a big fat walrus government? What should be argued is the effectiveness and the efficiency of government.
Brady Rose A never said they did it because they were assholes. They did it because it was profitable. That is what corporations do: maximize profit, minimize expenditure. And if families sent their kids to work, well, they did it to maximize profit, as well. Capitalism has been the driving force behind the quality of life improvement on this world for the past 200 years or so, but this is a byproduct. It has to be checked, because private interests and public interests are not always cooperative.
Obviously you have to calculate for population growth and countless other changes in our nation. This type of presentation can easily be interpreted as disingenuous. Not saying all regs are good but if you've interest in an honest objective assessment, many regs are just necessary for safety and long term survival.
We want a 10th year anniversary!
Update! Update! Update! Update!
Excellent visualization!
Happy 4th of July, everybody...
There are many regulations that cost loads of tax money, much of which are completely unnecessary, and that only benefit the special interests. Suggesting that regulation has done good for minorities and children can be a misconception, as markets alone have the power to improve working conditions and consumer services on their own behalf.
Also note that in regions of higher quantities of enforced and highly restrictive regulations, crime is significantly higher. Whether or not conditions were already dire in those areas prior to regulation, the stats have shown that the situation has not necessarily improved as falsely suggested by many progressives.
We must also consider that a grave majority of legislatures worry primarily of their pensions, when a vote is to be made. Rep. Mike Bost of Illinois went on an epic rant on having to vote on thousands of pages worth of bills by certain due dates, without having much time to completely comprehend them in order to make full informed decisions on the house floor.
This is a huge problem in the American bureaucratic system today.
So much for a 'free' country.
How do I go to that paper he mentions at the end?
this needs updating, with a graph.
A smaller, safer graph
Bu-bu-but! The 2008 financial crisis was caused by too little regulation! Everyone knows that!
Sarcasm.
+SaulOhio Or it was caused by people who could afford a 90,000. house buying a 180,000 house because they wanted more then they could really afford.
Scott S. Why would a bank lend money to someone who could not afford to pay it back? It used to be that liberals complained that banks only loaned money to people who already had a lot of it and didn't need it. But now that we have a central bank printing up fiat paper money and lending it to the other banks at low interest rates, FDIC insurance repaying depositors if the bank acted irresponsibly, previous bailouts, Fannie and Freddie buying up mortgages, providing banks with more money to replace what they had loaned out, and all sorts of other moral hazard policies, banks felt safe in lending money to anyone with a pulse. They used to have standards. The people who could only afford $90,000 they would have loaned only $90,000. Now, because of everything the government has done to help "promote home ownership", they don't care.
And July 11 2022 the Number is....? Why does WTF come to mind?
This is what we are doing to ourselves America. Republican or Democrat it doesn't matter.
If you have too many rules - people will start ignoring them. It's like a law of nature.
I'm curious: Is McLaughlin the tallest Fellow at Mercatus? If so, then it does goes to show how ridiculous the regularoty burden is.
Separate government from economy compleatly. Government intervention is the cause of corruption, economic crises, and bad education. The reason is the fact that the essence of government is force and it should be banned from entering relationships between people. Anywhere government acts - someone is forced, exploited, enslaved.
Need an updated display throughout Obama and reversal since Trump.
The government is putting regulations to help people. Much of this regulation is actually needed and helps the average person, some isn't needed ofc. The reason regulation is needed is bc of capitalism, and companies cutting corners with workers, work environment, and safety of goods. This is one of the many reasons I am a Marxist, bc that step is removed.
and still no term limits for congress, hmmm
Very effective when you see the visuals. Regulations kills human potential.
Look at the complexity of US tax codes vs frech or other OECDs, are we to say that the rest are less advanced today? let's not kid ourselves, regulation is a political currency. Leeways and savehaven in exchange for support between corporations and government.
Audit Them. Bottom diddly
This has to be put in to context. Regulations are necessary. We have a lot more things going on in the world today than we did in 1950. Just saying we do or don't need 18 times more without proper context is just propaganda and pandering to a base if uninformed people.
klstrat996 ok than explain the economic slowdown and don't say its because redistribution of wealth because in the 1860s to 1910 we had a 0% income tax and grew just as fast as we did in the 1950s the only other reason we could be slowing down is because banks are always guaranteed money so they are more riskier and make stupider decisions because there is no invisible hand to keep them honest.
Totalitarian tip-toe.
how absurd is it !
Without federal regulation, companies used to dump waste wherever they could, and they used small children to repair industrial machinery. Regulation is a good thing, as it protects the american workers from the industry. I'm not anti-capitalist in any sense of the word, but I acknowledge the fact that a corporation is driven only by the economic principle. If it is more profitable to ruin the environment or their workers' lives, then they will do that. It's the way they operated before regulation, and it's the way the will operate again if you eliminate regulation.
That argument MAY have bin valid up untill 1980.Since then NO AGENCY HAS CONTRIBUTED any substantive gain in safety or effiency
And you think there is no limit to what should be regulated? Nobody is arguing that there should literally be no regulation, but we solved things like using children in factories about a hundred years ago. A little medicine will heal you, too much will kill you. And you are wrong about how companies would operate without many of the current regulations in today's world. Social media and awareness and the resulting litigation wouldn't allow it. Things like that used to go unchecked because almost nobody knew about them. Everybody knows about everything now.
People didn't have children work in factories because overwhelmingly everyone in the past were all assholes. Its because families had their children join in on supporting the family because they economically had no other choice. The simple increase of overall personal wealth, the great majority of people stopped having their kids work because no one NEEDED to do that anymore. Regulation only got rid of a tiny percentage of child labour, capitalism acutally got rid of the overwhelming majority.
Thomas Meadows As new information comes to light, new information is needed. I have sitting on my desk an MSDS from a prominent oil company that says that crude sweet oil IS a carcinogen on page 1 and IS NOT a carcinogen on page 2. New data demands new regulations. New conditions demand new regulations. I'm sorry but the argument over 'size' of the government is so childlike. Like, do you want an itty bitty baby government, or a big fat walrus government? What should be argued is the effectiveness and the efficiency of government.
Brady Rose A never said they did it because they were assholes. They did it because it was profitable. That is what corporations do: maximize profit, minimize expenditure. And if families sent their kids to work, well, they did it to maximize profit, as well. Capitalism has been the driving force behind the quality of life improvement on this world for the past 200 years or so, but this is a byproduct. It has to be checked, because private interests and public interests are not always cooperative.
Obviously you have to calculate for population growth and countless other changes in our nation. This type of presentation can easily be interpreted as disingenuous. Not saying all regs are good but if you've interest in an honest objective assessment, many regs are just necessary for safety and long term survival.