By Michael Carr – Re-Blogged From http://www.newsmax.com
A recent study concluded that the growth of regulation between 1977 and 2012 reduced economic growth by about 0.8 percent a year. Without all of those new regulations, GDP would be about $4 trillion higher.
This may seem like an abstraction but individuals suffer when economic growth fails to meet its potential. With $4 trillion in economic growth, there would be more jobs and jobs would pay better. As study by the Mercatus Center at George Mason University found, regulations could be shaving as much as $13,000 from each worker, on average.
Skeptics need to realize many manufacturers wouldn’t relocate if regulations didn’t increase the cost of doing business. There would be more jobs and better paying jobs without onerous regulation.