The Deregulation Myth

Ignore the rhetoric: nations with more rules grow faster

Overregulation has been a persistent economic bogeyman this year. Presidential candidate and Texas Governor Rick Perry says government regulations are "strangling the American entrepreneurship out there." House Speaker John Boehner says cutting regulation is the best way to boost jobs. Even President Barack Obama has talked about eliminating some government rules. In mid-October the World Bank released its annual ranking of countries on the basis of ease of doing business; it took into account the number of regulations, tax rates, the time it takes to start a business and other factors. Out of 183 countries, the U.S. was deemed the fourth...

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