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John Cochrane made the best statement about this I've heard so far on Econtalk a few weeks ago: http://www.econtalk.org/archives/2016/09/john_cochrane_o.html ht

John Cochrane made the best statement about this I've heard so far on Econtalk a few weeks ago: http://www.econtalk.org/archives/2016/09/john_cochrane_o.html http://www.econtalk.org/archives/2016/09/john_cochrane_o.htm... His point is that it's not about the quantity of regulation, but the type of regulation. In short he sees two types: 1. Regulation that I can read and now I know what to do and not do. 2. Regulation that requires me to consult an expert and apply to some government agency who then tells me if I am allowed to do something or not. Obviously the second type is the bad one. You cannot properly plan. There often is no guaranteed time frame, you have no proper recourse and ideally have some kind of fixer. This type of regulation also tends to give large businesses an edge over small ones, creates large overhead for the system as a whole and ultimately hurts innovation. I think it would help any discussion about regulation to carefully differentiate between these two types of regulation.

crazy1van 10y ago
Econtalk ( http://www.econtalk.org http://www.econtalk.org ) is an amazing resource for understanding economics and the theories and incentives at play within it. The guests have a wide array of perspectives and the host does a good job of letting them talk so they can truly express their opinions during the hour conversation. It's so refreshing compared to the 2 minute soundbite theatrics you'll hear from "experts" on the tv news.
jomamaxx 10y ago
Masses of regulations are complex and require lawyers - even small business tax is a mess.
- ajmurmann 10y ago
  He makes a ton of suggestions on how to simplify regulations. Among other things he wants to do taxing corporations altogether because according to him they eithe avoid them or pass them on anyways. Listen to it! You will enjoy it!
  - danieltillett 10y ago
    The problem with not taxing corporations is the rich can use corporations as a tax free saving vehicle. There is a great need to simplify regulations, but until the political system is reformed it will be hard to prevent the political class conspiring with vested interests to create regulations. Fix the cause not the symptoms.
    - coredog64 10y ago
      > The problem with not taxing corporations is the rich can use corporations as a tax free saving vehicle. I think this is more myth than reality. The IRS has a very good nose for finding people who are attempting this particular tax avoidance strategy.
      - danieltillett 10y ago
        Yes they do now, but if you stopped taxing corporations then it would be a lot harder. The system we use in Australia is quite good. Corporations pay income tax, but any tax paid is passed onto the shareholders in the form of a tax credit (franking credits).

crazy1van 10y ago

Econtalk ( http://www.econtalk.org http://www.econtalk.org ) is an amazing resource for understanding economics and the theories and incentives at play within it. The guests have a wide array of perspectives and the host does a good job of letting them talk so they can truly express their opinions during the hour conversation. It's so refreshing compared to the 2 minute soundbite theatrics you'll hear from "experts" on the tv news.

jomamaxx 10y ago

Masses of regulations are complex and require lawyers - even small business tax is a mess.

ajmurmann 10y ago
He makes a ton of suggestions on how to simplify regulations. Among other things he wants to do taxing corporations altogether because according to him they eithe avoid them or pass them on anyways. Listen to it! You will enjoy it!
- danieltillett 10y ago
  The problem with not taxing corporations is the rich can use corporations as a tax free saving vehicle. There is a great need to simplify regulations, but until the political system is reformed it will be hard to prevent the political class conspiring with vested interests to create regulations. Fix the cause not the symptoms.
  - coredog64 10y ago
    > The problem with not taxing corporations is the rich can use corporations as a tax free saving vehicle. I think this is more myth than reality. The IRS has a very good nose for finding people who are attempting this particular tax avoidance strategy.
    - danieltillett 10y ago
      Yes they do now, but if you stopped taxing corporations then it would be a lot harder. The system we use in Australia is quite good. Corporations pay income tax, but any tax paid is passed onto the shareholders in the form of a tax credit (franking credits).