By Tim Draper | Thursday August 31, 2017 at 8:00 AM PST | Comments Off on Want a Happier, Healthier, and More Prosperous Society? Try Freedom, Innovation and Incentives
“I will promote freedom at all costs,” is the first line of the Draper University pledge. Draper University of Heroes is a school I created to encourage people with ideas and energy to pursue their visions through entrepreneurship and risktaking. For an entrepreneur, freedom matters most. The ability to try new things without government...
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Tags: Bitcoin, blockchain, digital government, economic prosperity, Education, Entrepreneurship, Estonia, FDA, free enterprise, government regulation, incentives, Innovation, Peace, Prisons, Regulation, teachers union, Technology, X-Prize
By Lawrence J. McQuillan | Thursday April 27, 2017 at 3:59 PM PST | Comments Off on Is the Largest Cost of Federal Regulation Not Measured? Insights from the (Growing) Wells Fargo Bank Scandal
A widely-cited study by W. Mark Crain and Nicole V. Crain estimates the cost of complying with U.S. government regulations at a staggering $2 trillion per year, an amount equal to 12 percent of gross domestic product. Annual compliance costs average about $10,000 per employee. Businesses in the service sector shoulder the biggest burden...
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Tags: Consumer Financial Protection Bureau, cost of federal regulations, cost of government regulations, Federal Regulations, government regulation, Office of the Comptroller of the Currency, San Francisco, savings and loan crisis, W. Mark Crain, Wells Fargo Bank, Wells Fargo Bank scandal
By Robert Murphy | Friday November 13, 2015 at 12:00 PM PST | Comments Off on Shiller’s Irrational Faith in Government Regulation
In a recent New York Times piece, economist Robert Shiller built an argument that was a non sequitur resting on two false premises. Specifically, Shiller argued: (Premise 1:) Economics courses teach students that market outcomes are “Pareto optimal.” (Premise 2:) In reality, market forces lead to systematic deception and manipulation of the public. (Conclusion:)...
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Tags: Austrian School of Economics, FDA, government regulation, market competition, Pareto optimal, Regulation, Robert J. Shiller, Shiller