Fascinating video, a must-watch.
Quoting from the video:
Every year, regulatory compliance costs U.S. businesses 1.75 trillion dollars. That would be enough to hire 43 million workers, one quarter of the U.S. workforce.
So, obviously, the costs of regulatory compliance eat up dollars that could go to jobs and productivity. Bottom line: lower (or negative) economic growth, high and persistent unemployment. Kind of like we’re seeing right now.