Economics

Intellections

Contributing Scholar: David Henderson

Less Regulation, More Information, Better Results

Rather than imposing costly and ineffective regulations, the government should provide individuals the information to make their own choices, empowering people with personal knowledge to reach better outcomes than distant bureaucrats ever could.

Less Regulation, More Information, Better Results
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Less Regulation, More Information, Better Results

Comment

Published September 26, 2023

Regulations assume the government has all relevant information to solve a problem optimally, but bureaucrats can't make the best choices for individuals because they lack personal knowledge and constraints. Providing data so people can decide themselves utilizes more information than expert bureaucrats have access to. Though not perfect, as government could mislead, providing information is generally a better non-coercive solution than regulation.