The Next Phase of Regulatory Reform
22nd June 2022
The revolving door between Wall Street and financial regulatory agencies remains an ever-present problem. Presidents Joe Biden and Donald Trump both used executive fiats to raise or maintain import tariffs on items like solar panels and goods from China. The Jones Act, in place since 1920, continues to protect American shipping interests. Ethanol subsidies support the American corn industry but hurt the poor in developing countries. Even as the internet has started to democratize the public-comment process?—?which is the primary way the public can engage with proposed rules?—?it remains dominated by special-interest groups. As debates have grown ever more technical and arcane, the average man on the street has little chance of influencing regulatory policy.