I read that American industry is starting to spend a lot on factory upgrades, new plants and equipment, etc. because of the promise or expectation that under President Donald Trump that there won’t be any new regulations.
Already, the real regulatory climate under Trump is radically more laissez faire than it was under President Barack Obama. Some would say that the conservative ideal that less government regulation leads to industrial and economic growth is actually being demonstrated in these developments.
A major reason for the boom of the 1950s was that our fathers didn’t have to pay for the consequences or cleanup of the manufacturing. They just dumped all the waste into the air and water and moved product into the stores.
Conservatives are correct that decreasing government regulation will increase industry profit. It’s only if you also look at what happens to the average person’s quality of life in an unregulated business environment that you can see any downside of deregulating an industry.
Digital Access For Only $0.99
For the most comprehensive local coverage, subscribe today.
Nobody can argue that cutting government regulation won’t be good for business. The issue is that the societal cost of the regulatory cuts is too great.