Episode 889: Eliminating Regulatory Burdens
Description
Newt talks with Patrick McLaughlin, a research fellow at the Hoover Institution, where he leads the QuantGov analytics project focusing on regulations. McLaughlin discusses the growth of regulatory requirements from 400,000 restrictive terms in 1970 to 1.1 million today, highlighting the economic friction and opportunity costs associated with regulatory accumulation. He estimates that if regulations had been held constant since 1980, the U.S. economy could be 25% larger by 2012, equating to a $4 trillion increase. They also discuss the impact of the Supreme Court's decision to end Chevron deference, which previously allowed agencies to interpret statutes with significant discretion. Their conversation concludes with an examination of Virginia Governor Glenn Youngkin's successful regulatory reforms, which include a 25% reduction in regulatory inventory and the use of AI for cost-benefit analysis, setting a new standard for regulatory management.
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