(01-06-2021, 10:50 AM)homebiscuit Wrote: I'm not sure how regulation creates employment, but it reminds me of this joke:



Once upon a time the government had a vast scrap yard in the middle of a desert.

 
Congress said, “Someone may steal from it at night.”  So they created a night watchman position and hired a person for the job.  
 
Then Congress said, “How does the watchman do his job without instruction?”
 
So they created a planning department and hired two people, one person to write the instructions, and one person to do time studies.  
 
Then Congress said, “How will we know the night watchman is doing the tasks correctly?” So they created a Quality Control department and hired two people, one to do the studies and one to write the reports.  
 
Then Congress said, “How are these people going to get paid?” So They created the following positions, a time keeper, and a payroll officer, then hired two people.  
 
Then Congress said, “Who will be accountable for all of these people?” So they created an administrative section and hired three people, an Administrative Officer, Assistant Administrative Officer, and a Legal Secretary.  
 
Then Congress said, “We have had this command in operation for one Year and we are $18,000 over budget, we must cutback overall cost.”  So they laid off the night watchman. 

Regulation can create jobs and it can get rid of jobs, it just depends on the regulation being made or being deregulated.  Sarbanes-Oxley in 2002 comes to mind as regulation that created lots of jobs.  I am personally more a fan of deregulation that lots of regulation, but you need some regulation.  As with most things in life, we need sensible moderation when it comes to regulation.

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