Friday, March 6, 2015

(Re-Post) Regulation Sucks

Reminder: Due to illness, I am forced to modify my posting schedule ending, hopefully, by June 1st. Consequently, I am reducing the number of posts to two per day and will be relying on audio, video, and re-posts to a much greater extent than normal during this period.  Thank you for understanding and for continuing to visit – and recommending! -- On Liberty Street! Now on to the post:

Original post 9/10/14:  Anthony Davies, one of my favorite economists, shows us what we already know to be true: that is, regulation destroys worker productivity.  From his post at the Mercatus Center (ht: Cafe Hayek), here's a graph comparing worker productivity in highly regulated industries vs.worker productivity in lesser regulated industries (click to enlarge):

Scary, but not surprising. So who wins with increased regulation? The politicians passing the legislation and the firms who lobbied for it in the first place.