World Bank: U.S. Regulations More Business-Friendly Than Other Region's

As U.S. politicians wrangle over the best way to create jobs and spur economic growth, one international agency is indicating that changing the regulatory environment may not be the answer.

The U.S. ranks in the top five of countries with the most business-friendly regulations, a recent report from the World Bank finds. America's regulations are more business-friendly than those of European, African, Latin-American and most Asian countries, according to the report.

Still, even though the U.S. may be more business-friendly than other regions when it comes to regulations that may not be enough for some; three-quarters of Americans say that businesses are over-regulated and that the rules push jobs overseas, according to a survey published last month by the Tarrance Group.

Republican leaders have been critical of what they view as excessive regulation that is preventing businesses from hiring. But Treasury Department officials wrote in a blog post Monday that the data doesn’t support the notion that over-regulation is what's holding businesses back, Politico reports.

After President Barack Obama's $447 billion jobs plan was rejected earlier this month , curbing regulations was among the counterproposals put forward by Republicans to jumpstart job growth. Employers added only 103,000 jobs in September barely enough to keep pace with population growth.

Republican presidential candidates as well as GOP Senate leaders are proposing weakening environmental protections as one answer to the stalled economy, according to economist and New York Times columnist Paul Krugman. Other targets include regulations relating to mercury emissions from power plants, rules governing working with lead paint and regulations relating to the transport of alien snakes over state lines, according to the Center for American Progress.

Though GOP leaders are taking aim at regulations as a way to boost business spending and job growth, one study indicates that some regulations may actually provide economic benefits. Implementing a clean fuels standard in Northeast could spur job growth in the area in ten years, according to a study from the Northeast States for Coordinated Air Use Management released in August.

Still some business leaders say that regulation is keeping them from hiring. The National Federation of Independent Businesses -- a small business advocacy group -- launched an initiative called Small Businesses for Sensible Regulation. According to the group, more than 90 percent of their members in Florida say federal regulations are hindering their operations.

Comments

[secureourfuels]

12:45 PM on 10/28/2011

A new study by IHS CERA (http://www.secureourfuels.org/wp-content/uploads/2009/06/Assessment-of-the-NESCAUM-Economic-Analysis-of-a-Clean-Transportation-Fuels-Program-for-the-Northeast-Mid-Atlantic-Region.pdf) has debunked the claims that a Low Carbon Fuel Standard would create significant economic benefits for the Northeast Region. Click here http://www.secureourfuels.org/blog/ to see the details. NESCAUM’s economic analysis of a Low Carbon Fuel Standard is littered with “flawed” and “unrealistic” assumptions, which render its conclusions “meaningless” according to a new report from IHS-CERA. IHS-CERA’s conclusions dovetail with recent reports by the National Academy of Sciences, the Energy Information Administration (EIA), and the Environmental Protection Agency (EPA) which have all asserted that that the advanced biofuels industry is not close to meeting production targets after two years under Federal Renewable Fuels Standard mandates. They also directly contradict projections from EIA, EPA and the National Academy of Sciences regarding both the costs and future sales of electric and natural gas vehicles.

[Eric Flanagan]

07:05 AM on 10/25/2011

I don't agree with the World Bank report; therefore it is leftist socialist propaganda. (sarcasm)

[Andrew Harvey]

11:57 PM on 10/24/2011

That's kinda like saying its OK to be a murderer in Sweden, because here in Sweden, our murder rate is so much lower than it its in Brazil, the US, UK, China and India. Therefore, its only natural that we should work to increase our murder rate, to comply with international standards.

Perhaps the Swedish government could actually select the persons that it feels should be our newest murder victims. I vote for the Swedish Chef from the Muppet Show, that guy has got to go, and he never really spoke Swedish in the first place.

[ProgressiveRG]

07:35 PM on 10/24/2011

It is so ironic when they ask small business about regulations. I am in Florida. Most federal regulations exempt small business. But the Republican dominated Florida legislature is great at passing regulations onerous for small business. The problem with this whole discussion is that they fail to distinguish federal from state regulations. The Republicans are so good at spinning lies. Part of their success is that they own all the main stream media and control what most stupid Americans hear. Unfortunately, most people aren't smart enough to think for themselves or see through the BS.

[KarmaPatrol]

07:19 PM on 10/24/2011

It's because business runs in the US means at home they nickel and dime everything, and have forgotten quality except for a few products like Apple (hardware, that is). Buyer beware.

Nickels and dimes aren't enough, so now they want the pennies. Plus the right to leave workers fingers in that canned meat ....

[tmrn31m]

07:17 PM on 10/24/2011

De regulation is what got us into the mess we are in, along with the current pay structure of corporate America, banks and hedge funds.

[JustinP213]

04:05 PM on 10/24/2011

Send this study to every Fortune 500 CEO.

[OldTulsan]

10:34 PM on 10/24/2011

You might find their email addresses here:

http://www.occupytheboardroom.org/
Occupy the Board Room

[monzambano]

03:35 PM on 10/24/2011

The problem is that while most so-called business "leaders" love to profess their adoration for Adam Smith, they can't have read him or they'd sound a different tune. History, experience, common sense and Adam Smith have shown that self-professed business "leaders" are actually awfully bad at knowing what's good for business in general. Which is why, in a democracy, we the people regulate business for the common good. History shows that we took that responsibility seriously, we've all prospered; where we've abandoned it - as we have under all Republican presidents since Mr. Ronald Wilson Reagan, formerly of 666 Rancho del Cielo -, most of us have suffered.

[skoko]

03:52 PM on 10/24/2011

I fully understand why the World Bank would come to such a conclusion. Our problem is that our Government and the people we think represent us are far, far too friendly with business, as it is by business that they are owned and controlled. At one time it was know by its correct name, CORRUPTION.

[tmrn31m]

07:18 PM on 10/24/2011

Well said.

[StopMakingSense2]

03:26 PM on 10/24/2011

This can't be right! It's not what Faux Nooz told me! Please don't force me to think for myself, my head is starting to hurt! Please someone turn on conservative talk radio so my fear and anger can be misdirected from it's source.

[Zip Zinzel]

03:15 PM on 10/24/2011

[ ARTICLE-QUOTE ]
"U.S. ranks in the top five of countries with the most business-friendly regulations, the World Bank finds"

WHAT ELSE WOULD YOU EXPECT?
We have the most BOUGHT & PAID-FOR legislature in the history of man;
. . . anybody who really thinks that the US isn't business friendly is just a prime example of the results of a non-stop propaganda campaign from the right-wing business lobby.
=========

"three-quarters of Americans say that businesses are over-regulated and that pushs jobs overseas"

REALITY-CHECK jobs go/went overseas based on economics. If their products are labor intensive and labor costs overseas are way lower than here in the US
. . . ONE OF TWO THINGS WILL HAPPEN

1) US Companies will move their manufacturing overseas

2) Other Rivals will start operating overseas and drive the US companies out of business
===============

BUT THE ECONOMIC EQUATION IS COMPLEX, and includes many factors besides just labor costs
ALL THINGS BEING EQUAL, most companies would prefer to stay in the US because we have an established rule of law here.
In third world countries, you are always just one revolution or one pissed-off strongman away from a nightmare.

AS RELATES TO CHINA, they only want to invite in, those companies who possess unique technologies.
AND they make it clear, that they intend to steal your technology.
Once, they have done so, they will have only a little use for you afterwards

[anonymous67]

03:07 PM on 10/24/2011

Proving once again that "conservative" policy has more basis in dogma than reality. And that REPUBLICANS LIE.

Wake-up America!!!

[Labor Party]

12:45 AM on 10/25/2011

Sad Truth!

[lysistrata]

02:43 PM on 10/24/2011

Sounds like they are not competent enough to run their business so they blame it all on regulations.
Seriously, if the small business people were honest, they would admit, they can't compete with the big chains. Mom and Pop stores can't make it unless the whole family works for nothing. The big ones are eating them alive, even big ones can't compete with Wal-Mart, Montgomery Ward went under and Sears and Penneys seem to be barely there.

Reducing regulation is reducing them for the big chains too, leveling the playing field again, no handy-cap for the little guy either.

[pbr56]

02:32 PM on 10/24/2011

you notice that republicans also speak in the generic when they say there are too many regulations. Because if they gave specifics, people would realize that they just want to allow companies to pollute and abuse workers.

[lysistrata]

02:52 PM on 10/24/2011

They believe in the shock doctrine, now is the time to go all the way for social Darwinism. Make the economy grow and move all the growth to the top few percent, vote Republican.

No more social safety net, no more unions, no more regulations, flat tax, no more labor laws, OSHA, tort reform, whatever it takes, vote Republican.

[MDhome]

02:26 PM on 10/24/2011

I wonder why is it that the truth has such a hard time to become common knowledge?

[Zip Zinzel]

03:23 PM on 10/24/2011

MDHOME

RIGHT-WINGERS relentlessly practice:
IF YOU REPEAT A LIE OFTEN ENOUGH
. . . sooner of later, a sizable portion of the population will begin to accept it as true
------------------------------
A lie gets halfway around the world before the truth has a chance to put its pants on.
~Winston Churchill (also attributed to Mark Twain)

[webwzrd]

02:23 PM on 10/24/2011

Yet another of the pillars of conservative ideology comes crashing down. Reality most definitely has a liberal bias.