The growth of government regulations has advanced at a vigorous pace over the last several decades, and is accelerating. From 1970 to 2017, the number of words in the Code of Federal Regulations nearly tripled from 35 million to over 103 million, according to a 2019 article published on Forbes.com, authored by Adam A. Millsap. Consider the following:The annual cost of regulations is estimated at $2 trillion a year, which is higher than the Gross Domestic Product of all but nine countries in the world. The result of this additional cost of regulation requires a business to grow revenue or watch profits go away. The primary culprit is the cost of increased regulation that required consolidation in the insurance industry.

Source: Forbes October 08, 2022 23:05 UTC