Markets Need Rules - George Washington University Director of Regulatories Studies, Susan Dudley

“We don’t need what we have now; the rules of the game are just constantly changing. Every year there are 3,000 to 4,000 new regulations issued. It’s hundreds of thousands of pages in the federal register. There are close 300,000 regulators writing and enforcing those regulations. That just means that our resources are spent influencing those regulations, influencing how they’re written, influencing how they’re enforced - instead of being spend creating and innovating products that meets societies demands. And that’s what leads to Crony Capitalism.

Can you imagine how baseball would be played if the rules of the game were constantly changing like that? Instead of baseball players trying to be better at the game, the objective would be to get the rules changed to suit them. We could never have a baseball game where the rules are changing that quickly, and that’s what’s happening in Washington.”