Leading experts discuss the pros and cons of government regulations and explain how they affect everyday life for Americans.
How do individual regulators operate within agencies to create and maintain regulations? Are regulators incentivized to pursue policy goals defined by Congress, their own policy preferences, or other factors? How does the regulatory institution itself contribute to policy goals? George J. Terwilliger, III examines these questions.
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Can providing market incentives produce desirable and more efficient outcomes in regulation? Chris DeMuth, Distinguished Fellow at the Hudson Institute, presents as a case study President Ronald Reagan’s permitting solution to the problem of lead in gasoline.
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What is the mechanism by which regulations are developed, finalized, and updated? How can this process be improved? Susan Dudley, Director of the George Washington University Regulatory Studies Center, provides insight into these questions.
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Regulations emanate from Washington and “affect every aspect of our lives, but we’re often unaware of it because they do so in hidden ways.” What are these effects and do they benefit American workers, companies, and consumers? A variety of experts on regulatory issues discuss this important question.
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Every state has laws or regulations that require individuals seeking to offer a certain service to the public first to obtain approval from the state before they may operate in the state. Recent years have seen a significant proliferation of such laws, with less than 5% of jobs in the American economy requiring a license in the 1950’s to between 25-30% today. Although licensing in some occupations may benefit the public by reducing information asymmetry and/or ensuring a minimum quality level for a particular service, the significant growth in the number of occupations governed by some form of licensing requirements poses a potential threat to competition and consumer welfare. Our panel of experts discussed these important issues.
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Arguably, regulation has helped us achieve the American Dream. The benefits are numerous. But have regulations gone too far? The Regulatory Transparency Project’s Fourth Branch video series will explore this question.
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