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.

Robert Higgs is Retired Senior Fellow in Political Economy, Founding Editor and former Editor at Large of The Independent Review.
Antitrust, Competition, and MonopolyBusiness and EntrepreneurshipEconomyLabor Law and RegulationLaw and Liberty
Other Independent Review articles by Robert Higgs
Fall 2019 Pressure-Release Valves in Participatory Fascism
Winter 2018/19 Two Worlds: Politics and Everything Else
Fall 2018 Against the Whole Concept and Construction of the Balance of International Payments
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