Interesting article about President Trump’s recent executive order aimed at easing federal regulations, with the hope that less regulation makes the entrepreneurial market more accessible. The order mandates that for each new agency regulation created, two must be destroyed. Actual statistics from the Department of Labor on the number of new businesses created indicate that despite these perceived barriers to entry, new business creation in the United States has been steadily increasing since the Great Recession of 2008.
It was fascinating the article noted that the idea that regulation inhibits business creation is hard to quantify. Last week in class, we discussed some of the qualities that make-up entrepreneurs. I think some of those attributes; like confidence and self-efficacy are things that no amount of regulation will deter. It seems that striking the correct balance between regulatory oversight and unfettered creation is difficult. I am curious to see whether easing some of these regulatory burdens actually spurns entrepreneurship, or if it creates more problems because Big Brother is no longer watching as closely.