I couldn’t resist the title, which would make a great theme/reminder for a Presidential candidate. At the risk of redundantly linking Warren Meyer, I wanted to note his latest post, describing through his own experiences how growth in regulation and compliance has led to a fundamental shift in the economy. I don’t need the firsthand experience to see that this is the case. This is a great way to stifle growth, making people hesitate even to go into business, or changing their approach to one that limits regulatory overhead. It becomes more than just a matter of tax avoidance or minimization. Don’t grow too large. Don’t hire. Don’t expand. Or, in the linked post, can’t expand any longer. A business that doesn’t start or expand reduces jobs or sales to that business that otherwise might have been.
SpaceX successfully launched a commercial satellite to geostationary orbit for a dramatically lower price than the international competition. This was part of the point of having a private space industry, after all, but it’s great to see it get real.