Regulatory Harmonization: A Sweet-Sounding, Dangerous Development
By Robert Higgs
This article appeared in the Winter 2000 issue of The Independent Review
Business people may favor better governmental coordination of the regulatory hoops they must jump through, but like other Faustian bargains, this entails risk. If the history of U.S. medical device regulation is any indication, the current push for international regulatory harmonization will result in raising regulatory hurdles at least as high the highest levels previously reached.