Example of Wealth Reducing, Job Killing Regulation

Via Instpundit:

Gibson Guitar Responds To Federal Raid:“The Federal Department of Justice in Washington, D.C. has suggested that the use of wood from India that is not finished by Indian workers is illegal, not because of U.S. law, but because it is the Justice Department’s interpretation of a law in India. (If the same wood from the same tree was finished by Indian workers, the material would be legal.) This action was taken without the support and consent of the government in India.” More, including video, at the link.

The employees, suppliers, and customers of Gibson Guitar are unable to conduct their business because of these raids. Notice the environmental laws Gibson must abide by as well (Forest Stewardship Council controlled). More deterrents to growth. As well, employees at Gibson will now have to spend time investigating this situation and responding to inquires by the government and media. What a waste of humanity.  Multiply this by thousands and its no wonder the US and much of the global economy is experiencing slow growth.  Its choking on rules and regulations.

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