On Stuart Varney’s FBN program this morning, they debated whether the financial “reform” bill will kill job creation. I can’t see how a two-thousand plus-page law ever avoids doing that. Politicians, many of whom are lawyers, share the conceit that they can manage life with paper and procedure. They don’t understand that just the quantity of their rule cause entrepreneurs to simply say: “I won’t even try.”
Why did German and Japan thrive after WWII? Because American bombs destroyed years of accumulated bureaucracy. Well, that’s probably one big reason. Their new governments started from scratch. With fewer rules, German and Japan prospered. America now moves in the opposite direction.
“We could spend several lifetimes trying to prune the jungle of law and entitlements that have overgrown our society.”
That’s from Philip K. Howard’s latest column , which points out that:
“Law has wrapped around every social interaction. Doctors go through the day thinking about self-protection from lawsuits. (Washington Post op-ed.) Teachers have lost control of the classroom because of the application of legal due process to ordinary disciplinary choices. (Wall Street Journal op-ed.) Governors and mayors are unable to balance budgets because of promises made by their predecessors. ( Wall Street Journal op-ed.)...”
As a result,
“[t]he can-do society has become the no-can-do society.”
Howard’s solution is
“ a popular movement to overhaul law and government to revive a time-honored operational principle--individual responsibility...”
I can’t see how that will happen. On my show Thursday, I propose the “Stossel Rule.” It says that for every new law we pass, we must first repeal 5 old ones.
I cannot see that happening either. But it would be a good start.