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Regulation Stifles Creativity, So Creative Companies Must Break the Rules

John Stossel on

America has so many regulations that today, often the only way to do something new, to create something great, to prosper is to ignore rules.

Minutes before SpaceX launched a rocket, the government told the company that the launch would violate its license.

SpaceX launched anyway.

CEO Elon Musk says that the Federal Aviation Administration has "a broken regulatory structure" and that "there is simply no way that humanity can become a spacefaring civilization without major regulatory reform."

But reform isn't likely.

While businesses must constantly adjust to survive, once bureaucrats create regulations, they have no incentive to repeal them, ever. Instead, they add hundreds of new ones every year.

 

Musk complains that government "can overregulate industries to the point where innovation becomes very difficult. The auto industry used to be a great hotbed of innovation ... but now there's so many regulations that are intended to protect consumers. ... Regulation for cars could fill this room."

So, Musk broke rules to make Tesla the success it is. He knew he couldn't innovate if he obeyed all of them. He's flaunted the rules of the U.S. Securities and Exchange Commission, even tweeting that SEC stands for "Suck Elon's ... "

So far, he's gotten away with it.

So have a few others.

...continued

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