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Article posted Jun 27 2013, 3:15 AM Category: Economy Source: Reason Print

Federal Regulations Have Made You 75 Percent Poorer


If anything, this is a conservative estimate. As Doug Casey has said, absent the state, we'd be living in the world of Star-Trek. - ChrisThe growth of federal regulations over the past six decades has cut U.S. economic growth by an average of 2 percentage points per year, according to a new study in the Journal of Economic Growth. As a result, the average American household receives about $277,000 less annually than it would have gotten in the absence of six decades of accumulated regulations--a median household income of $330,000 instead of the $53,000 we get now.

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Comments 1 - 2 of 2 Add Comment Page 1 of 1
Anonymous

Posted: Jun 27 2013, 11:00 AM

Link
76227 The headline is misleading.

The authors of the study do not include the non-monetary benefits of regulation in their calculations. They state: "Our results offer no conclusion on whether regulation is a net social benefit."

The author of the article asumes all of the increase in GNP would be distributed equally. It is much more lkely, as we saw in the less regulated 1920's, that most of the financial benefits would have gone to a small percent of the population.

I agree that we are over-regulated, but I am more concerned with the loss of liberty that entails as well as unnecessary costs placed on individuals and small businesses. Some regulation is beneficial but we need to weigh it against its costs. The 600% increase in regulation since 1949 shows that we have failed in that regard.
skid marx

Posted: Jun 28 2013, 6:55 AM

Link
99169 The glorious each according to his needs socialist utopia? Everyone poor, broke and miserable together. Ahhh...equality of results comrade.


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