Quotation of the Day…

is from page 174 of Johan Norberg’s excellent 2023 book, The Capitalist Manifesto (footnote deleted; link added):

Complicated regulations create a fixed cost for established companies that they handle with divisions of specialists. But for startups with few employees and little capital, these regulations act as direct barriers to entry. Research on the US economy shows that market concentration grew the most in sectors where regulations increased the fastest.

The post Quotation of the Day… appeared first on Cafe Hayek.

Liked Liked