Archive for November, 2013
The number and complexity of federal regulations affecting manufacturers continue to grow, placing a heavy financial burden on the sector, according to a recent study by the Manufacturers Alliance for Productivity and Innovation (MAPI). Manufacturing advocates say a more transparent and better-coordinated regulatory regime, along with increased cost-effectiveness, could significantly reduce the drag on productivity.
MAPI study states that the costs of federal regulations for the U.S. manufacturing sector have increased an average of 7.6 percent annually since 1998, while output in the sector has only grown 0.4 percent yearly during the same period. Since 1981, federal agencies have released 2,302 regulations that affect manufacturers, of which 270 have an individual economic effect of $100 million/yr or more.
by Wayne Crews
Back in Part 1 of Cataloging Washington’s Hidden Costs, the topic was the incalculable cost of the loss of liberty in an advanced mixed economy.
On the other hand, “mere” economic costs of regulations are supposed to be the easy part, the stuff we can really get a grip on. Turns out, most economic interference is unmeasured and probably unmeasurable too.
Let’s do a non-exhaustive rundown of some economic costs not included in my rough $1.8 trillion annual regulatory cost placeholder that I have so far.
From: Industry Market Trends
Groups Weigh In on Assertion that Regulations Hinder U.S. Manufacturing
Federal regulations continue to pose a financial burden to manufacturing, according to a report published by the Manufacturers Alliance for Productivity and Innovation (MAPI). Several trade and government groups offer their assessments of the situation.
The costs to manufacturing brought by federal regulations have increased an average of 7.6 percent annually since 1998, NERA Economic Consulting reported for MAPI. Since 1981, federal agencies have promulgated 2,302 regulations that affect manufacturers.
Editor’s Note: The complete article from The Federalist Society’s Engage journal is available here. The following is from the Introduction.
Sofie Miller, Policy Analyst, The George Washington University Regulatory Studies Center