Government regulations have the power to spur innovation or inhibit economic growth, says Michael Greenstone, director of the Hamilton Project at Brookings. The key, he says, is to find the right balance between the costs of regulation to business and the benefits to the public in health, safety and security. Moreover, Greenstone recommends more rigorous evaluation of the effectiveness of regulations so the government can keep regulations that work in place and discard unnecessary or burdensome rules.
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