Regulation That’s Good for Competition [Archive.org URL]

Market economies need regulation to facilitate fair competition and to protect consumers, the environment, and vulnerable workers from unfair practices. Too often, however, regulation has the opposite effect: hindering competition and protecting some groups at the expense of others, which is what happens when, for example, minimum-wage regulations limit the creation of jobs for low-skilled workers. A report by the McKinsey Global Institute highlights the damaging effects of three types of overzealous regulation and offers guidelines for getting it right.

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