The U.S. Department of Defense has a big problem with part suppliers who exploit government regulations over time to jack up the prices of products far above what it costs to make them, costing taxpayers millions of dollars more than they should have to pay for them. In particular, the firm TransDigm has been […]
Government regulation contributes to stifling effective competition in the free market which leads to price gouging and excessive inflation.
In a recently released report, the Commission on Wartime Contracting concludes that waste and fraud have consumed at least $31 billion and perhaps as much as $60 billion of the $190 billion or so that the U.S. government has expended in grants and contracts with private individuals and companies for work in Iraq and Afghanistan since fiscal 2002. According to […]