Regulatory Assault

With all the flights canceled due to sudden safety concerns, you might wonder what in the world is going on here. The Wall Street Journal has a good explanation. Some people seem to believe that human ills can be eliminated with enough regulation. Perhaps they’re right. The problem is that regulations increase costs and discourages innovation. We all pay the costs, at least indirectly. And we miss whatever benefits we might have received from innovation that didn’t happen. The sheer volume of regulation has grown so large that almost everyone is in violation of some regulation, whether we know it or not. This can and will lead to selective enforcement, depending upon political considerations. But I sense that excessive regulations has a lot of popular support. It may take a lot more than thousands of canceled flights to get people to change their thinking.

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