According to a new time-series study by economists John Dawson of Appalachian State University and John Seater of North Carolina State,
U.S. regulations have prevented the American economy from being productive and inventive. Because of this, U.S. GDP is just $16 trillion instead of $54 trillion.
Ronald Bailey writes that “the growth of federal regulations over the past six decades has cut U.S. economic growth by an average of 2 percentage points per year.”
“As a result, the average American household receives about $277,000 less annually than it would have gotten in the absence of six decades of accumulated regulations.”
