NC State Ag Economist Dr. Mike Walden – “Restraining Regulations”


Mary:    I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program looks at restraining regulations.  Mike, the Trump Administration has been curtailing new federal regulations and curtailing others in a variety of areas, including energy, the environment, finance, and labor.   What’s behind this effort and what are the consequences?

Mike:  Summary Answer

  1. Background is that federal regulations have been increasing, and many in the business community have argued they are too excessive because they increase business costs and reduce business activity and hiring
  2. One study estimated the volume of federal regulations have increased almost 25% just during this century
  3. Of course, there are presumably benefits with regulations – such as cleaner air in the environmental area or safer transactions in the financial area – so always will have a battle over relative benefits and costs
  4. Does seem to be a correlation between today’s anti-regulation position and business confidence
  5. But whether fewer regulations will boost economic growth is source of intense economic debate
  6. I’m MW

Mary:  And I’m Mary Walden for N C State Extension