An Ever-Growing Jungle: Rethinking the U.S. Regulatory Process

For the United States to regain the commanding heights it occupied during the 1980s, it needs regulatory reform. Many sectors of the economy, including health care, education, and energy, have exhibited decades of low productivity and little innovation partly because they have been weighed down with regulations that make it difficult to displace incumbent practices with new and better methods. Over-regulation also threatens new technologies such as drones, driverless cars, and medical apps that, if properly developed, could deliver huge economic and social benefits.