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Regulations As a "Panacea": Exploring the Consequences
- 2. Capturing and Comparing Changes in the Volume, Scope, and Burden of Federal Regulations Patrick A. McLaughlin Senior Research Fellow Mercatus Center
- 3. Federal Register Pages Printed Each Year
- 4. RegData New way to quantify federal regulation Innovations: • Based on words in regulatory text • Measures regulation specific to CFR Title • Permits industry-specific indexing of targeted regulation
- 5. Example
- 7. One sentence from 29 CFR Part 1926 Section 416 Before work is begun the employer shall ascertain by inquiry or direct observation, or by instruments, whether any part of an energized power circuit, exposed or concealed, is so located that the performance of the work may bring any person, tool, or machine into physical or electrical contact with the electric power circuit.
- 8. The Accumulation of Regulation 1,005,000 984,444 963,889 943,333 Restrictions 922,778 902,222 881,667 861,111 840,556 820,000 97 98 99 00 01 02 03 04 05 06 07 08 09 10 19 19 19 20 20 20 20 20 20 20 20 20 20 20
- 9. Restrictions in Labor 50,000 48,750 Labor 47,500 46,250 45,000 97 98 99 00 01 02 03 04 05 06 07 08 09 10 19 19 19 20 20 20 20 20 20 20 20 20 20 20
- 10. Restrictions in Specific Titles 65,000 58,750 IRS Labor 52,500 46,250 40,000 97 98 99 00 01 02 03 04 05 06 07 08 09 10 19 19 19 20 20 20 20 20 20 20 20 20 20 20
- 11. Labor, IRS, and Environment 160,000 130,000 100,000 Environment IRS Labor 70,000 40,000 97 98 99 00 01 02 03 04 05 06 07 08 09 10 19 19 19 20 20 20 20 20 20 20 20 20 20 20
- 12. Regulation by Industry Paper Manufacturing Paper Manufacturer Paper Manufacturers
- 13. Industry Regulation Index - Manufacturing
- 14. Industry Regulation Index – 3 Industries
- 15. Why is this important? RegData provides: • Visualization of growth of regulation across titles and agencies • Tool for research
- 24. OPPORTUNITY: DENIED When Regulations Pick Winners & Losers Matthew Mitchell Senior Research Fellow
- 25. LEFT RIGHT “ Regulation “Regulation must rein in is crushing business” business”
- 26. Regulations Restricting Entry 36 States Require “Certificates of Need” to Open a Health Facility
- 27. Regulations Restricting Entry 10 States Require License to Braid Hair
- 28. “[T]he verdict is nearly unanimous that economic regulation over rates, entry, mergers, and technology has been anticompetitive and wasteful”
- 29. “[T]he verdict is nearly unanimous that economic regulation over rates, entry, mergers, and technology has been anticompetitive and wasteful ...our unguided regulatory system undermines competition and entrenches ” monopoly at the public’s expense.
- 30. Regulations That Raise Rivals’ Costs
- 31. THE CONSEQUENCES
- 32. Anti-Competitive Lower Higher Quality Prices
- 33. Privilege-Seeking Costs $1 - $3.5 Trillion annually
- 34. $55,000 $48,889 $42,778 $42,662 Inflation-Adjusted Dollars $36,667 $30,556 Actual Per Capita $24,444 Production $18,333 $12,222 $6,111 $0 1975 1980 1985 1990 1995 2000 2005 2010
- 35. $55,000 $54,071 $48,889 Per Capita $42,778 Production with $42,662 Inflation-Adjusted Dollars Less Rent Seeking $36,667 $30,556 Actual Per Capita $24,444 Production $18,333 $12,222 $6,111 $0 1975 1980 1985 1990 1995 2000 2005 2010
- 36. OPPORTUNITY: DENIED When Regulations Pick Winners & Losers Email: MMitche3@gmu.edu Web: www.Mercatus.org Blog: www.NeighborhoodEffects.com Twitter: @MattMitchell80