Last week, House Speaker Paul Ryan proposed a new regulatory reform plan he calls a “better way” to revive the stalled economy. It proceeds on the understanding that competition, choice and decentralized decision-making encourage innovation and growth, in contrast to regulation, which often leads to less-productive activities, precaution and maintenance of the status quo. Susan Dudley’s Forbes column elaborates on the value of competition vs. regulation.
Ryan also calls on agencies to recognize that regulatory costs often hit low income households the hardest. Dudley and Sofie Miller of George Washington University’s Regulatory Studies Center point out the consumer costs of the Department of Energy’s appliance efficiency standards.