@georgeob1,
georgeob1 wrote:
You say "shopworn" but just what are your credentials for assessing the effects of regulation on economic investment, enterprise creation and job growth?
I simply look at the actual economic figures for each year of my life and note that while regulations keep increasung, GDP growth, debt-to-GDP ratio, average wages, and job growth move up and down according to a variety of factors. One does not need to be a Harvard-trained economist to see that the rise in regulations is not connected to our economic situation in anything approaching a linear fashion. This puts the lie to the, yes, shopworn argument that the rise in regulations is a 'job killer.' There's simply little evidence that this is true.
I don't envy your end of the argument, because you're left pushing a hypothetical: 'well, with less regulations, there WOULD be more jobs!' That's very hard to prove.
Quote:The fact is we have seen a steady increase in the reach of Federal regulations throughout most of your life span - even under Republican administrations, though at a much slower rate. I can tell you, from a very substantial base of business experience, that the growing complexity and reach of Federal financial, tax, labor management and environmental regulations is indeed inhibiting the investment of liquid assets in creating new enterprises in this countrey. I know from direct experience that it is increasingly hard to calculate a successful investment strategy and as a direct consequence businesses are sitting on hordes of cash and sustaining their market valuations by paying dividends rather than investing in the growth of their operation or in new enterprises. This is a boon to investors but does nothing for job growth.
I believe there are some alternate and equally valid explanations for the situation you describe here, explanations that rely upon more base motivation. Once again, this is a recitation of the very same WSJ-type Republican line that I've been hearing literally my entire life. It is very difficult for me to accept the account you're providing here when faced with the reality of job and business growth in this country during that time span, because the effects you describe are either far less pronounced than you are making them out to be, or they are not nearly the drag upon our economy as you posit.
I'll also point out that there are quite a few environmental-based regulations out there that are considered onerous by Business, primarily because those regulations cost them money to comply with. I don't care about that at all, because growth of the economy and growth of business profits is secondary to maintaining a clean environment - and this should be agreed upon by all. I think we both know that this isn't the case, though, and that those regulations exist for very good reasons.
Cycloptichorn