Over time, modern democracies create and sustain excessive regulations, deterring entrepreneurship and hindering economic growth, according to Supreme Court Justice Neil Gorsuch in his book.
Businesses faced with extensive regulations spend less on expansion and hiring, indicating that accumulating red tape is detrimental to economic opportunities and innovation.
The accumulation of regulations is the default setting within governance, requiring active management and a proactive stance from lawmakers to mitigate these burdens.
A new index by the Mercatus Center highlights states that are either stockpiling regulations, like California and New York, or proactively cutting red tape.
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