Milton Friedman on Regulations and Consumers
Who protects the consumer? This cut is from episode 7 of the original 1980 Free To Choose TV Series.
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This my favorite video clip from Free to Choose!!! It sums up why our economy is failing at ever faster speed... perfectly.
At the federal level alone, there are over 70 federal regulatory agencies, employing hundreds of thousands of people to write and implement regulations. Every year, they issue about 3,500 new rules, and the regulatory code now is over 168,000 pages long.
It's 80,000 pages now, isn't it?
But we have to take into consideration how different things are now.
Government is the new middle man.
5 Billion dollars today is pocket change for this government.