Republicans are roundly convinced that Barack Obama and the Democrats have blundered the job of creating jobs and reviving the national economy.
When talking about their own plans for sparking a renaissance — including here in the North Country — the GOP heralds two big ideas, tax cuts and deregulation.
But a new report by the nonpartisan online journalism project Pro Publica is raising new questions about whether that strategy will be effective.
According to the in-depth article, regulation can indeed kill jobs or push industries to make big changes in the number of jobs they offer. But generally, those changes are off-set by the growth of other industries or jobs.
The article cites “data from the Bureau of Labor Statistics, which shows employers attributing a small fraction of job losses to governmental regulations. In the first half of 2011, employers listed regulations as the cause of 0.2 to 0.3 percent of jobs lost as part of mass layoffs.”
The report doesn’t speak to one of the Republican Party’s chief assertions, namely that many of these rules are unnecessary or frivolous.
But it does raise questions about whether deregulation can spark the kind of new prosperity that many conservatives promise.
What if other, more complicated factors, cause most job losses? Cheaper labor overseas, for example, or more efficient production techniques, or declining demand or competition?
Check out the article and chime in.
Do you think fewer rules will mean more jobs? Are all those rules really unneeded bureaucracy in the first place?