Monday, December 2, 2013

Regressives wrong on regulation

Not surprisingly, the standard regressive line that regulations stifle job growth has no basis in fact. See this article which debunks yet another of their cherished myths. A few examples:

"One new study, which examines this particular argument, finds it absurd on its face. [...] In fact, the OMB estimates that regulations provide huge economic benefits. [...] The irony is that Republicans always hail the ability of businesses to innovate and adapt, but their anti-regulatory stance is premised on the idea the businesses cannot adapt to new regulation. [...] Opponents of regulation often suggest that regulations create uncertainty and therefore stymie growth, but in truth they do the opposite.

"The report shows how regulations we now take for granted — catalytic converters, unleaded gasoline, fuel efficiency standards, worker safety protection, minimum wages, environmental protections — were once denounced by industry shills as 'job killing' or 'economy strangling.' Industry experts predicted that worker safety regulations would destroy jobs and tank industries. The day before the bills would pass they would shout Cassandra-like warnings and hold up Mayan calendars. But the next day the air was cleaner, workers were safer and the economy chugged along."

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