Governments may have frozen the economy, but governments can’t freeze time. Economic realities are radically different, and only entrepreneurship can adapt production to the upheaval.
Regulatory barriers prevent entrepreneurs from adapting. We can’t afford to try and unfreeze the economy amid the complexities of the regulatory state. Many pre-COVID-19 economic patterns have been enshrined into thousands of pages of legislation and regulation. To unfreeze effectively, governments should turn to removing many of those barriers that prevent competitive entry into new markets, enabling entrepreneurs to innovate.
FEE’s mission is to inspire, educate, and connect future leaders with the economic, ethical, and legal principles of a free society. These principles include: individual liberty, free-market economics, entrepreneurship, private property, high moral character, and limited government. Visit https://fee.org