Regulatory reform could be a big boost if it is done right, but indiscriminate deregulation could do more harm than good. Regulatory freedom, at least as it is measured by the Heritage and Cato indexes, is not an end in itself. Rather, it is an outcome of good government in the more general sense.
To get the good government they want, then, regulatory reformers must do more than cut, cut, cut.
They must get their priorities right by retaining regulations that support the basic functioning of a market economy, replacing regulations that have legitimate aims but unintended consequences, and repealing regulations that are motivated primarily by the manipulation of public policy for private gain.to give economic growth a further boost. There, they may find more bipartisan support. Past reforms of airlines, rail, and trucking regulation were, after all, set in motion by Democrats.
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