When regulation is imposed there is almost always a corresponding discussion of its cost. Regulation, almost by definition, detracts from economic production and therefore results in a cost. The regulation may be justified on other grounds, such as safety, health, security and the like. However, rarely does regulation result in increased economic output, although some may argue that certain regulations ultimately result in increased production. …
Here’s the most significant recent example of the benefit of deregulation: hydrofracturing (fracking).
Click here to read more of this guest post by Craig Metcalf on Sutherland Daily.
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