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Thread: Study confirms link between regulation and productivity

  1. #1

    Study confirms link between regulation and productivity

    While federal regulators often have good intentions—such as improving worker safety or protecting the environment—agencies frequently do an inadequate job measuring the adverse impact their proposed regulations could have on the economy.

    This is particularly troubling in light of a new study published by the Mercatus Center at George Mason University, which finds that more rules can lower economic productivity in the regulated industry. Author Antony Davies quantifies the economic impact of federal regulations using data from the Bureau of Labor Statistics and regulatory information from the Mercatus Center’s RegData, a tool that uses text analysis to quantify the federal regulations targeting each industry in the United States. According to the data, less regulated industries outperform more heavily regulated industries in a variety of production efficiency measures. Therefore, policymakers should consider leaving markets to be regulated more by consumers through purchasing choices, particularly with market solutions and improved technology narrowing the information gaps between consumers and producers.

    When confronted with regulation, producers are likely to alter production levels and processes in ways that they would not have otherwise chosen. We also expect competition to decline in heavily regulated markets since the burden imposed by regulation functions as a barrier to new firms who wish to enter the market. Consequently, productivity in industries should decline as the regulatory burden placed on them increases. From 1997 through 2010, productivity in the least regulated industries grew almost twice as fast as in the most regulated industries.



  2. #2
    Join Date
    Aug 2014
    Home of the Syrupmakers

    Re: Study confirms link between regulation and productivity


  3. #3

    Re: Study confirms link between regulation and productivity

    No surprises there.
    "It doesn't matter how beautiful your theory is, it doesn't matter how smart you are. If it doesn't agree with experiment, it's wrong."

    -- Richard P. Feynman.

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