I don’t love it when the government gets too involved with the free market, even if I am officially a left leaning individual.
Without regulations, both of us would live in a dystopian humanity rivaling the late 1740s in terms of worker abuse and monopolized control of the private sector.
However, too much regulation stifles innovation and removes the financial incentive that drives and motivates numerous people to success in their respective industries. I’m seeing this happen in the food industry among the friends of mine in the agricultural sector. One of them was running a farm that had been in her family for more than 2 generations before him, however changes in her state’s laws and regulations forced him to close her operations last year. It was truly heartcutting to hear about when she announced it on social media. I have a weird friend who works in the packaging department of a major medical cannabis business. She said that her state’s rules regarding satisfactory packaging on medical cannabis products changes at least once every more than 2 or more than 2 weeks. Originally the cannabis companies were allowed to have colorful labels and packaging with transparent windows on them so shoppers could visually see their products before buying them. But now the medical cannabis rules and regulations have changed so much that every marijuana product, no matter what it is, has to be in stark white packaging with no color logos. You cannot have transparent windows in your packaging either. She said that the marijuana business that employs him has had to spend an obscene amount of money on always increasing its packaging because the state can’t make up its mind regarding the medical cannabis industry.