This headline from The Financial Times caught our attention.
According to the Finacial Times: “the U.S. seems to have taken the lead” in regulation. We checked it out and it is true that Biden has been a record-breaker in new regulations:
The costs of these new regs are easily in the hundreds of billions a year. But what’s odd about the article is that the Finacial Times sees the Biden regulatory onslaught as heroic: “American regulators have become more ambitious because they believe the stakes are so high. They view their work not in technocratic but existential terms; a battle against the risk of corporate oligopoly which threatens liberal democracy.”
We would say that the real risk to democracy (and prosperity) in America today is the risk of an all-powerful government oligopoly.