Category Archives: Uncategorized

This Week in Ridiculous Regulations

Not one, but two potential Federal Reserve Board nominees withdrew from consideration last week and economic growth and unemployment remained in excellent health. Meanwhile, with the 2019 Federal Register poised to exceed 20,000 pages this week, rulemaking agencies issued new regulations covering TV channel lineups to postal products.

On to the data:

  • Last week, 53 new final regulations were published in the Federal Register, after 45 the previous week.
  • That’s the equivalent of a new regulation every three hours and 10 minutes.
  • Federal agencies have issued 867 final regulations in 2019. At that pace, there will be 2,521 new final regulations. Last year’s total was 3,367 regulations.
  • Last week, agencies published 528 notices, for a total of 7,184 in 2019. At that pace, there will be 20,884 new notices this year. Last year’s total was 22,205.
  • Last week, 1,746 new pages were added to the Federal Register, after 1,330 pages the previous week.
  • The 2019 Federal Register totals 19,681 pages. It is on pace for 57,213                                                         pages. The 2018 total was 68,082 pages. The all-time record adjusted page count (which subtracts skips, jumps, and blank pages) is 96,994, set in 2016.
  • Rules are called “economically significant” if they have costs of $100 million or more in a given year. One such rule has been published this year. Six such rules were published in 2018.
  • The running compliance cost tally for 2019’s economically significant regulations currently ranges from $139.1 million to $175.8 million. The 2018 total ranges from $220.1 million to $2.54 billion, depending on discount rates and other assumptions.
  • Agencies have published 27 final rules meeting the broader definition of “significant” so far this year. 2018’s total was 108 significant final rules.
  • So far in 2019, 156 new rules affect small businesses; 11 of them are classified as significant. 2018’s totals were 660 rules affecting small businesses, with 29 of them significant.

Highlights from last week’s new final regulations:

For more data, see Ten Thousand Commandments and follow @10KC and @RegoftheDay on Twitter.

James S.A. Corey – Caliban’s War (The Expanse Book 2)

James S.A. Corey – Caliban’s War (The Expanse Book 2)

The second book in The Expanse series. While it has the same general story arc as the second season of the tv series, there are plenty of differences in how events happen, and how characters meet and interact. It also introduces my two favorite characters in the series, Chrisjen Avasarala and Sgt. Roberta Draper.

Avasarala is a high-ranking UN politician. She is intelligent, cynical, and conniving, and has a surprisingly creative potty mouth, which is often a bit shocking, coming as it does from a septuagenarian in a sari. As the novel progresses, her character is filled out with little details such as a fondness for pistachios, which she always keeps in her purse, and a loving relationship with her husband, whose gentle personality could not be more different than hers. While highly observant about political strategy and personal dynamics, she can also be oblivious to what is going on right in front of her.

Draper is a physically imposing Martian marine, who even ancient Spartans might have considered a dedicated soldier. She is the lone survivor of an attack by human-alien protomolecule hybrid, which sparks a Mars-UN war. She is sent to Earth to appear in diplomatic hearings while still dealing with the trauma from the attack, and Earth gravity and culture are a bit of a shock to her, as is her obvious use by her superiors as a pawn. Events lead to Avasarala hiring her as an assistant, and they develop a nice rapport. Despite Draper’s conflicted feelings about working for the enemy, she realizes they both want peace, and are on the same side. Draper and Avasarala also have some amusing culture clash moments, both with each other and with the other characters.

Interview on the Case against Antitrust Law

Here is an interview I recently did on Wayne Crews’ and my paper on antitrust law. My segment starts at about the 57-minute mark.

The paper is here.

Republican Study Committee Releases 2020 Budget Proposal

Congress is supposed to pass an annual spending budget, though it rarely gets around to it. Instead, the government is usually funded through a mashup of individual appropriations bills, omnibus appropriations bills, and continuing resolutions. This makes government spending less transparent and less accountable. It also leaves the federal government vulnerable to shutdowns during political fights, which happened in January of this year.

Fortunately, the Republican Study Committee (RSC) has just issued a proposed budget. It is likely the only budget that will be introduced in Congress this year, though unlikely to pass a Democratic House. As with any issue-spanning document, one can quibble with its contents regardless of political persuasion. Still, the RSC deserves a great deal of credit for at least putting something out there.

Other parts of the GOP should also issue their own proposed budgets; unlike The Highlander, there can be more than one. Across the aisle, a Democratic budget(s) would face similar obstacles in a Republican Senate and White House. They still should release their own budgets to make their policy priorities more concrete.

The whole RSC FY 2020 Budget is here. The document cites CEI sources on a variety of issues:

  • Regulatory Reform. The budget gives an entire chapter to regulatory reform, beginning on page 17, and cites Wayne Crews’s Ten Thousand Commandments annual report—the 2019 edition of which will be released soon.
  • Energy and Environment. The budget’s recommendations for increasing North American energy production draw on the energy and environment chapter in CEI’s Agenda for the 116th Congress.
  • Export-Import Bank. On page 25, the budget would abolish the Export-Import Bank, citing my paper “Ten Reasons to Abolish the Export-Import Bank.” Ex-Im’s charter expires this September 30, and will close if Congress declines to reauthorize it.

Kudos to the RSC for putting out a tangible document that should serve as a starting point for debating federal priorities for the next fiscal year—and for attempting to fix a broken budget process. They also have excellent taste in finding sources for many of their ideas; interested readers can find more in CEI’s Free to Prosper: A Pro-Growth Agenda for the 116th Congress.

Charles Darwin – On the Origin of Species

Charles Darwin – On the Origin of Species by Means of Natural Selection, or the Preservation of Favoured Races in the Struggle for Life

There is something to be said about reading primary sources. In this case, it is surprisingly readable. For a book about theory, Darwin is heavily empirical. Every facet of natural selection he brings up in the book is illustrated by real-life examples from nature, including animals, plants, fungi, and more. In a way it’s an Attenborough-esque nature tour, with more depth and a unifying theme.

The book stands up better than I expected. Science has advanced much in the last 160 years, but those advances are more updates and expansions than a wholesale rebuilding of natural selection theory. The biggest advances have been in genetics; the Origin of Species’ biggest shortcomings are in that area, though that isn’t necessarily Darwin’s fault.

Darwin also had a charming humility. His personality was more shy and retiring than brash and combative, and it showed in his writing. He’s hard to hate as a person, and his lack of dogmatism and certainty would in most cases be disarming. But considering the uproar he caused, that turns out not to have been the case. Darwin went noticeably out of his away to avoid mentioning the God hypothesis, though he does allude several times to the need for longer-than-biblical time scales for natural selection processes to operate. Even so, critics pounced. Even today, some people reject evolutionary thinking, though nearly always for religious rather than scientific reasons.

As with Adam Smith, the ratio of people who have strong opinions about Darwin to the people who have actually read him is very large. As a result, popular conceptions of his views tend not to be entirely accurate. I encourage interested readers to improve that ratio and read the book. The Origin of Species turns out to have literary value as well as scientific, and there is something to be learned from the delivery as well as the content.

At Least He Means Well

The 19th-century French economist Frederic Bastiat observed, “The worst thing that can happen to a good cause is, not to be skillfully attacked, but to be ineptly defended.” I thought of this quotation when looking for a statement from President Trump on his early-term regulatory reform efforts. This is a top quote from a WhiteHouse.gov press release, presumably from its Department of Redundancy Department:

We will get rid of the redundancy and duplication that wastes your time and your money.

 

The Value of Too Many Books

from Herbert Simon, Administrative Behavior, 4th Edition, p. 244:

Even reading one book a day—a pretty good clip—a person who has collected a library of 30,000 books will take 100 years to read through all of them. We may even consider it a bit ostentatious of people to collect more books than they can possibly read—as though they were trying to impress us with their learning. However, we must not be too hasty in judging them. If their libraries are properly indexed, then each of our collectors has potential access to any of the information in the 30,000 volumes. They are quite justified in collecting more volumes than they can read if they cannot predict in advance what particular information they will need in the future, and if they have a good indexing system for finding, on demand, what they want to see.

Increased Wage Compensation Means Decreased Non-Wage Compensation

My adoptive home state of Illinois recently decided to gradually increase its minimum wage to $15 per hour in 2025. Bethany Blankley at Watchdog.org has a writeup in which she quotes me on some of the non-wage tradeoffs that will accompany the wage increase:

Ryan Young, a fellow at the Competitive Enterprise Institute (CEI), a free market think tank in Washington, D.C., said that implementing a higher minimum wage “forces employers to reduce non-wage pay such as insurance, breaks and personal time off, free meals or parking, and more.”

The whole article is here.

Antitrust Regulation Is Turning into a Campaign Issue

Both parties are making antitrust regulation a 2020 campaign issue. Neither President Trump nor most of the Democratic candidates are proposing improvements. Over at the Washington Examiner I take a closer look:

After a two-decade lull following the Microsoft case, big antitrust enforcement cases are back in vogue. Both political parties are making antitrust regulation a 2020 campaign issue. Regulators, politicians, and voters have reasonable concerns about concentrated corporate power. But few policies are easier for big companies to game than antitrust regulation. Reformers should favor having fewer regulations for special interests to capture, not more.

Read the whole piece here. See also Wayne Crews’ and my new paper, “The Case against Antitrust Law: Ten Areas Where Antitrust Policy Can Move on from the Smokestack Era.”

Arthur Conan Doyle ­- The Complete Sherlock Holmes

Arthur Conan Doyle ­- The Complete Sherlock Holmes

The audio version, narrated by Stephen Fry, is a delight. I enjoyed the Benedict Cumberbatch BBC series a few years ago, and Fry’s radio programs on Victorian culture sparked an interest in reading some primary source material. Though lengthy—four novels and countless short stories—this collection made driving, exercising, and doing chores go by much more quickly. I also followed along on the Kindle edition, which is free.