What Is Government Regulation?

Government regulation is a rule or set of rules that control the actions of people, businesses, and organizations. These rules have the force of law and often carry penalties such as fines and prison time for failure to comply with them. When 2016 ended, the Federal Register, which contains just federal government regulations, was 97,110 pages long.

Who Makes Government Regulation?

Regulations are issued by officials in numerous federal, state, and local government departments and agencies tasked with the duty of carrying out the intent of a lawmaking body like Congress. While there is no authoritative list of federal government agencies, the Administrative Conference of the United States, which studies federal government agencies, has listed as many as 115.

Where Is Government Regulation?

Everywhere! Government regulation touches every aspect of our lives – usually in multiple ways. You name it and there is a government regulation for it.

Some economists estimate that compliance with these regulations costs more than $2 trillion annually. That cost is equivalent to an average of nearly $15,000 per American household.

Why Is There Government Regulation?

The primary reason for government regulation is to protect public health and safety especially as the world becomes more complex, interconnected, and fast-paced in our digital age.

Why Should We Care About Government Regulation?

Because, government regulation can be both a great benefit and a great burden.

Despite the best of intentions, government regulation can fail, can stifle innovation, can foreclose opportunity, and can harm the most vulnerable among us. It is for precisely these reasons, that we must be diligent in reviewing how our policies either succeed or fail us, and think about how we might improve them. It is for these reasons, that the Regulatory Transparency Project will engage in exactly that sort of examination.

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