New paper finds that increased regulatory costs explain about a third of the increase in market power over the last 50 years.
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This is why regulatory reform must be a key part of an abundance agenda:
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Replying to @AlecStapp
Intuitively I feel like there are a lot of areas where we've managed to get the worst of both worlds; they're not really well regulated in any meaningful sense but all we've succeeded in doing is driving up compliance costs enormously
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Intuitively I feel like there are a lot of areas where we've managed to get the worst of both worlds; they're not really well regulated in any meaningful sense but all we've succeeded in doing is driving up compliance costs enormously
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Full paper here (h/t @mattsclancy):
papers.ssrn.com/sol3/papers.cf
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