Executive Orders provide temporary relief, but long term structural change is needed for the U.S. to free itself from the regulatory leviathan and permanently limit federal bureaucracies and their army of unaccountable regulators.
Start with two statutory safeguards: 1) Congressional legislation that requires the delivery of $2 of regulatory cost reduction for every one dollar of new regulatory cost increase; and 2) Periodic Congressional reauthorization of regulations affecting industries and the economy — with sunset provisions for those not reauthorized.
The following is a transcript of a recent talk CWPM Fellow Scott S. Powell gave to a crowd of students at Florida Atlantic University.
There have been many civilizations that have come into being over the last 6,000 years—from the ancient Mesopotamians, Egyptians, and Asian civilizations that sprang up around the Euphrates, Tigress, Nile, Indus and Yellow River valleys, to the more recent and advanced Greek and Roman civilizations, which have more directly shaped Western civilization. While each of these civilizations made their own contributions to progress during the times in which they flourished, none of them unleashed the kind of economic development and entrepreneurial productivity witnessed in the first two hundred years of the American civilization. Read More ›