Free Market Win: Today's Executive Order Requires Removal of 2 Regulations for Every New One

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Less red tape is good for business. What is good for business is good for the economy and jobs. Today Donald Trump signed an executive order requiring that for every new regulation, 2 old ones must go.

This is a welcome gift to anyone who has ever operated a business. Ultimately anyone that ever wants a job should welcome this executive order.

“If you have a regulation you want, No. 1, we’re not gonna approve it because it’s already been approved probably in 17 different forms,” Trump said. “But if we do, the only way you have a chance is we have to knock out two regulations for every new regulation. So if there’s a new regulation, they have to knock out two.”

With thousands of new regulations being added every year, we are being bombarded with new regulations that have become costly and burdensome to operate businesses. Little kids aren't even allowed to operate a lemonade stand in most places. 

The executive order, which was a fulfilled campaign promise, was done after the President held a listening session with a number of small business leaders.

One of the older business leaders verbally thanked Trump for signing the executive order saying:

Small businesses have been buried in a title wave of red tape. To break that will really change the world for us.

John Stossel takes a hard look at government regulations in this video. He points out how everything is now illegal in this country because of all of the new regulations we have to abide by each year.

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The free market is a truly awe-inspiring complex of relationships in which the rational self-interest of individuals unites all industries, all markets, all occupations, all production, and all consumption into a harmonious, progressing system serving the well-being of all who participate in it.

- George Reisman