That "Can't Do" Spirit

Why owning your own business is no loner a recipe for independence.

Susan Lee from the March 1996 issue

(Page 5 of 5)

All four of these businesspeople are coping, to be sure. Each understands that the goals of many regulations are desirable--whether they are to set high standards, ensure safe conditions, enhance the quality of life, or provide equal opportunity. Unfortunately, however, in trying to achieve those goals, regulation has proved ham-handed and heavy-footed.

Indeed, government regulation is invidious: It dampens productivity, saps innovation, damages business investment, creates uncertainty, costs a lot of money, promotes frustration, supports two insufferable groups--lawyers and bureaucrats--and drives otherwise sensible people mad.

Unfortunately, despite the 1994 congressional election, where the single, overwhelming result of exit polls demonstrated that voters are fed up with big, expensive, and intrusive government, congressional will has been weak. For example, a House bill to require that new federal regulations costing more than $25 million be submitted to cost-benefit analysis faltered when the Senate failed to pass its own version.

And that leaves us all holding the bag.