If businesses surrender to government regulations, how can they survive?
As government grows, businesses try to adapt, often by opening government affairs offices in Washington. Yet the regulatory burden continues to increase as public attitudes toward business continue to decline. Seeing little return on their defensive investments, it is not surprising that many firms despair and adopt strategies of appeasement. If you can’t beat ’em, join ’em!…
…In today’s mixed economy businesses must find creative ways to manage the conflicts between the two worlds in which they operate: the private world of competition and customers and the political world of regulation and critics. Increasingly issues are decided in the harsh glare of media coverage. Absent any popular understanding of how attacks on business affect their values, few citizens oppose such attacks.
The result has been a steady shrinkage of the private sphere vis-à-vis the political. In 1950 the Federal Register contained “only” 3,800 pages of federal regulations. Today it exceeds 68,000. And as the latest edition of CEI’s annual survey of the federal regulatory state, 10,0000 Commandments, notes, the cost of regulation in 2010 exceeded $1.7 trillion. America’s regulatory burdens are hindering our success in the global marketplace as foreign competitors are increasingly reducing their regulatory costs.Read more here:if capitalism capitulates