Posted BY: William Manning
The power and influence America enjoys today were delivered by an economic miracle driven by capitalism. For the first 150 years of the republic, the government had the good sense not to interfere with this miracle. The government was a steward of the people’s liberty, making Americans free to pursue business and other enterprises.
This has changed. Today, the government meddles with the economy, placing the economic miracle in jeopardy.
Profit is the primary motivator for most businesses. If left unchecked, businesses may take advantage of competitors, customers, investors, and employees. The government has established its authority to monitor and restrain businesses that profit from unfair business practices. Unfortunately, the government has shown that it is incapable of restraining itself from overzealous legislation and regulation.
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While some government regulations are needed, overzealous regulation damages markets, businesses, stockholders, and consumers. Investor’s Business Daily estimates that the “cost of regulations to the U.S. economy is huge — roughly $2 trillion a year. The cost of U.S. regulation each year is greater than the GDP of all but nine countries.”