The new push for deregulation in the US and the EU would be unlikely to yield substantial benefits in the best of times, not least because regulatory burdens are so difficult to measure. When the push is guided by a bias toward special interest groups – as seems to be true under Donald Trump – it is likely to do more harm than good.
MILAN – Deregulation is back in vogue on both sides of the Atlantic. It is a major plank of US President Donald Trump’s agenda, with one executive order requiring government agencies to eliminate ten regulations for every one they introduce. It is also a priority for the European Commission, which has pledged to reduce “administrative burdens” by at least 25%. And it is all over the media, including the cover of The Economist. But is deregulation really the boon for economic competitiveness that its proponents claim?
MILAN – Deregulation is back in vogue on both sides of the Atlantic. It is a major plank of US President Donald Trump’s agenda, with one executive order requiring government agencies to eliminate ten regulations for every one they introduce. It is also a priority for the European Commission, which has pledged to reduce “administrative burdens” by at least 25%. And it is all over the media, including the cover of The Economist. But is deregulation really the boon for economic competitiveness that its proponents claim?