Thursday, July 28, 2011

A Pretense of Regulatory Reform - Gary Galles - Mises Daily

A Pretense of Regulatory Reform - Gary Galles - Mises Daily: "Sunstein wrote, 'Since the 1970s, milk has been defined as an 'oil' and subject to costly rules designed to prevent oil spills.' But the EPA has now concluded the burdens were unjustifiable, and given dairies an exemption saving them $140 million a year. Unfortunately, rather than demonstrating that Americans no longer need worry about abusive regulations, it illustrates the opposite.

The fact that a clearly nonsensical and costly policy persisted for decades, despite multiple 'reforms,' reveals that almost no attention is actually given to outdated and overly burdensome regulations. But when public outrage becomes severe, a few idiocies must be recognized and sacrificed to pretend regulatory responsibility. Once such a minimal reform diminishes outrage, Americans will again stop paying much attention to the regulatory bureaucracy, and the constraints on abusive regulations will once again shrivel."

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