Tackling the Human Cost of Regulations

Government regulations have been historically regarded as a necessary tool to control undesirable behavior, promote worker and consumer safety, and prevent dominant firms from abusing their market power. Most economists accept that regulations have negative impacts on commerce and economic growth. These consequences are often regarded as the price that must be paid to protect vulnerable populations and promote higher ideals such as environmental protection. Such tradeoffs can occur with carefully designed, appropriate regulations.

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