I just invented a new word. I needed to rhyme with Regulatory to make my point. As I was reading J.P.'s outline about the "American Dream", his narrative about Economic Freedom pointed out the impact of regulation (over regulation) on restricting our economic freedom. Criticizing regulations is a common diatribe of most politicians. Too often budgets are rationalized by saying a certain legislation is simplifying regulations and reducing the cost to businesses. Instead of simplifying it - another layer of complexity complicates the matter.
The root cause of the problem is not regulation - it is over protection. Government attempting to protect the individual from some hidden "evil" or even from accidents, terrorists, natural disasters and yes even mismanagement of health and wealth. It is the classic parental attempt to prevent their children from making mistakes. Or worse, when a mistake does occur parents try to eliminate or avoid any negative consequences. Creating a "Protect-a-tory" environment.
This is clearly seen in the over reaction to airport security. With great taxpayer cost, passenger inconvenience, and commercial price increase, the government creates the illusion that passenger safety has increase; Maybe safety increased incrementally a small amount - but at what cost.
The trouble with regulations (like business controls) is that they too often are reactions to an unfortunate occurrence (maybe even random). The regulation is put into place to prevent the negative occurrence from happening again. The benefit of the regulation is never evaluated and it never goes away even if the process returns to normal (with lower probabilities of negative occurrences in the future). Unfortunately there is an exponential inefficiency as layer after layer of regulations are implemented. This is evident when you see the U.S.A. tax code and it's many attempts at social engineering.
How to dismantle a "Protect-a-tory" environment is the key to stopping the drain on economic freedom. Start with limited government.
P.S. Coming soon - special healthcare mandates of rubber sole shoes to prevent slipping on ice for any temperatures below 32 degrees