Too Much Deregulation?
By David Henderson
In the latest issue of the Cato Institute’s Policy Report, I have the lead article. It’s title: “Are We Ailing from Too Much Deregulation?”
In it, I quote from articles by Los Angeles Times reporter Peter Gosselin and Washington Post reporter Stephen Pearlstein. Both reporters argue that a major cause of our current economic problems is deregulation. I quote specifics and analyze the specifics, showing that since the early 1980s, regulation has increased and there has been little deregulation.
One excerpt from my article.
Consider some specifics. Pearlstein writes: For the past 25 years, the United States has put its faith in open, unregulated and lightly taxed markets, and there’s little doubt that, over time, that model has expanded economic output and improved economic efficiency. But what Americans have also come to realize is that the same model is less adept at providing other things that we value highly–things like safety, fairness, economic security and environmental sustainability.
There are two main problems with that two-sentence paragraph: the first sentence and the second sentence.