The GOP needs to fight it by becoming the party of innovation:
This revelation, that new small businesses primarily create jobs and economic growth, demands a complete rethinking of economic policy for the United States. If Republicans understand this and thereby embrace the mantle of innovation, not only will they be expediting a new wave of ingenuity, but they will also share credit with entrepreneurs for the next tech boom.
This requires creating a regulatory and legal climate that fosters “permission-less innovation.” True innovators often can’t afford—either in terms of money or mental energy—to hire lobbyists and change the law. Entrepreneurs should not be wasting their start-up capital on lawyers, consultants, and PAC donations.
Given the stakes—the future of the economy—a political party that is not serious about technology and innovation is a party that is not serious about economic growth and job creation. Thus far, the Republican Party is not serious about technology and innovation. Republicans talk about regulatory reform but in practice do little about it.
Good luck with that, for the Stupid Party.
An recent opinion piece in the local paper “White Mountain Independent” quoted from the CEI regarding the cost of regulations on business. There are 51 regulations with economic impact for every law passed by congress. The stupid party is complicit with that. As someone else noted here, it’s a feature to protect themselves from responsibility to the voters.
This isn’t just a federal issue–the states like to create barriers to entry, too. One of the key problems in health insurance, for instance, has long been the entrenched companies limiting competition through regulation.
If the GOP were serious about economics, it would advocate considerable deregulation, massive and permanent cuts in spending, major tax simplification and reform, and a restoration of the concept of limited government and free(er) markets. And get the government at all levels out of the business of, well, business. We need separation of commerce and state.
Also, just read something about a Brookings report that suggests that business failures are now exceeding business start-ups (presumably in raw numbers). If true, that’s very bad news.
Excellent article.
Regulatory capture at the state and local level is a bipartisan problem.
I was a bit pissed to learn that Texas passed a law that charges fees for bringing in alcohol purchased overseas (duty free). The fee is based on size, thus making the tax on cheaper alcohol far greater than the sales tax of the state. The law is dumb and an assault on free markets and trade, and since it was recently enacted, it was passed by a Republican controlled Congress and signed by Rick Perry. And the stupid party wonders why there are so many primary opponents.
Funny, you never seem to admit it when the dems do it.
That’s because he’s a hack and can’t admit–probably can’t believe–the Democrats do it.
I’ve always said the NRC was utterly captured by Industry.
They licensed the Westinghouse APS-1000 reactor design without
even waiting to see if any design changes post fukushima should be incorporated
into the APS-1000.
The FCC is now mostly a big industry bastion. The proposal to end
net neutrality is typical of that.
Isn’t wielding power, enriching yourself and your cronies the biggest reason why people go into politics?
A new chapter in bankruptcy for the mega-corps “Too big to fail”, and a new criminal penalty/breakup plan with the actual name “Corporate Death Penalty” both fall in the area the anti-trust regulations are -supposed to- (but mostly fail to) manage. Monopolies (and near-monopolies) are an acknowledged problem – this hits the bankrupt and criminal ones.
They’re “leveling”, in that they (theoretically) could be put in place without having a specific target or beneficiary in mind. They’re nominally difficult to lobby against “Oh, are you worried about going bankrupt then?!?” They’d sell to the less-activist Democrats. But the leadership could never, ever go for it.