Posted 8/16/11 by Common Good
Today’s Read: The WSJ on How to Smother Infrastructure
If you wanted to subvert investment in national infrastructure projects, where would you start? One idea would be to regulate where construction workers are supposed to sleep (campers or motels?). Another would be to prohibit construction during the mating season of non-endangered birds.
Today, the Wall Street Journal reports on how a myriad of regulations added to the delay and cost overruns of a recent natural gas project. At a time when politicians agree that we need infrastructure investments, we’re squandering opportunity:
…all of this—spending years in government pre-planning, rerouting an energy corridor to avoid rock piles—carries a large economic price. Capital expenditures on archeologists and bird courtship could be put to more productive use elsewhere in the economy. The Ruby saga isn't remarkable except in how unremarkable it is, how routine, and this ordeal replicated countless times across the entire economy helps to explain why the recovery is so mediocre.
Regulations are important for protecting against exploitation and abuse. But all too often, and particularly in the aggregate, they defy common sense, costing jobs and money for little to no good reason. The Start Over campaign wants to bring common sense back into the regulatory equation, giving officials the authority to support the common good and then holding them accountable for their choices. Aren’t the consequences worse to not do so?
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