Cataloging Washington’s Hidden Costs, Part 2: The Unmeasured Impacts of Economic Intervention

by Wayne Crews on November 19, 2013

Back in Part 1 of Cataloging Washington’s Hidden Costs, the topic was the incalculable cost of the loss of liberty in an advanced mixed economy.  On the other hand, “mere” economic costs of regulations are supposed to be the easy part, the stuff we can really get a grip on. Turns out, most economic interference is unmeasured and probably unmeasurable too.  Let’s do a non-exhaustive rundown of some economic costs not included in my rough $1.8 trillion annual regulatory cost placeholder that I have so far.

Antitrust:... Permitting restrictions and denial of access to resources:.... Costs created by proposed rules that disrupt commercial activity:.... Costs of policy uncertainty:.... The costs of “rent-seeking”:.... The distortions of crony capitalism:.... Differential effects of rules on contemporary businesses:.... Diversion of resources and private initiative created by government funding:.... Indirect costs:.... Economic effects of the minimum wage:.... Perpetuation of early-20th century style infrastructure regulation:.... Most regulations impacting mostly every industry and sector:.... Forced technologies, forced “benefits”:.... ….To Read More….