Impact of Excessive Government Regulation :: Over-regulated America

Some believe the giving medication regulates business too muchothers feel that the governing body does non do enough. I believe the government isregulating business far too much and furthermore place businesses out ofbusiness and causing many workers to lose jobs. In this report card I will point outthe common problems dealing with government regulation. I will also focus onthree major aspects of government regulation which include 1) regulationinterferes with production by halt innovation and discouraging risk taking,resulting in declining employment, 2) government over regulates by settingstandards for every aspect of manufacture when it could allow businesses to set boilers suit objectives for their business, 3) regulation cost too much in businesscompliance, which is passed on to the consumer and finally forces the companyout of business. The objectives of safety and health will fall apart be achieved inthe absence of government regulation. Government regulatory agencie s substantiate spentbillions of dollars and there is superficial evidence that the world is any splitoff than it was without the agencies and costly reclaims. When reading furtherask yourself the question, does the costs or regulation outweigh the benefits,I believe they do not.Regulatory programs commonly are started by a group of people with a item-by-item interest and pressure the government and people to believe that there isa major crisis, creating panic to an alleged problem. When this happens itpressures Congress to pass a reform law in fear of not being reelected. Mediagroups also embolden in creating panic by focusing on the bad and not the possiblesolutions to fix the problem. What happens is Congress passes a reform thatthey have lowly thought over and create costly new standards that could makelittle difference in the world. A good example of this happened during theadoption of the cable car emission standards of 1970. When Congress passed a billwith little debat e and hardly a(prenominal) people having any idea on what the bill was about,creating costly reforms and forcing put off backs on business expenses. In all ofthe cases of 1970 the Congress chose to regulate kinda of the alternativescourt penalties for polluters, tax penalties for employers with poor safetyrecords, or government-funded information programs. The health and safetyregulators were created in response to a nonexistent crises, therefore it is not surprising they have made little impact.Sam Peltzman, University of Chicago economist, did a cost-benefitanalysis of the drug regulations that followed the thalidomide tragedy in Europe.In his analysis he focused on the Food and Drug Administration (FDA) which isalike the previous(a) single-industry regulators and some of its problems are typical