Tuesday, July 22, 2014

Regulation

Putin criticized for burden of regulation, though Russia's burden of regulation is dwarfed by the US.
"However, Stratfor’s latest mailing “Can Putin Survive?” mentioned that Russian regulatory burdens on the economy are startling, and led me to this article showing that government inspections cost the economy $35 Billion a year!   1.8% of the Russian GDP!  Curious, I looked at Ten Thousand Commandments verify that government in the United States consumes 31% of the GDP, and that costs for Americans to comply with our own regulatory state is a mere $1.86 Trillion (over 10% of the economy)."
Ouch.

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