Expanded Environmental Regulation Will Not Essay

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Therefore even if the government intervention reduces economic output in the short-term, the economy will see long-term benefits from the policies. This is a variation of the infant industry argument, which suggests that emerging industries need additional protections and that such protections will ultimately be paid for with a strong industry.

However, to adopt such an assumption is essentially a gamble. The government would, with the increased regulations, be betting on different technologies and industries, in the hopes that they would emerge in the future to be stronger than the existing ones. The tactics, however, are suspect. The infant industry argument is based on providing subsidies or protections from foreign competition -- direct harm does not come to domestic operators.

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In other words, there is no up-front cost to infant industry protections. By enacting regulations to guide consumer and business decisions, however, the government is imposing an up-front cost directly to Americans. It does so not knowing the outcome, and not having even a reasonable estimation of the outcome. As a result, the government's regulations amount to a gamble.

Thus, the imposition of environmental regulations reduces economic output today, with no guarantee that there will be a payoff tomorrow. This runs counter to the notion that such regulations would create a prosperous and competitive economy tomorrow. This may happen, or it may not happen. No matter the outcome, the government is causing harm today in a gamble on….....

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