President Obama has now told business leaders that they should stop hoarding cash and start hiring workers again. I assert that the government should stop the nanny state regulations on business and let the free market work. Offering to take back regulations that are in place for new hiring is completely backward thinking. Fresh forward thinking leaders do not impose nanny state regulations in the first place.
Nanny state regulations on businesses have grown exponentially since Obama took office. Just look at all of them in the ObamaCare, The Dodd-Frank Financial Regulation bill, The Food Safety Bill, Financial Stimulus Bill, and many others. If the president is serious about getting businesses to hire again why not look in the mirror and end the myriad of nanny state regulations on businesses and do so NOW!
Businesses assess their own markets and the supply and demand for their products on a continuing basis. From that assessment they decide to increase or decrease production, mothball a plant or reenergize an idled plant. These are no small decisions. But they are decisions based on whether businesses make a profit or loss. We should remember that only when firms make a profit do they get to stay in business and employ people. And the people they employ need to be well educated, creative and innovative to ensure that that business is competitive.
Further, businesses look forward, incorporating all future regulations, labor costs, supply and demand forces, etc. in order to determine their future actions. When they see less than a rosy picture they wait. This is the same way consumers act. Consumers wait until we see that there is a high assurance that they can pay for the item that they are buying.
We the people have a responsibility to demand and demand daily from our elected leaders and officials in Washington to stop the nanny state regulations and the increased taxes and the micromanaging of the economy, all of which are not Constitutional powers given to the Federal Government by the founding fathers. We need the Federal Government to be the limited government that we the people and the 50 sovereign states designed into the US Constitution. AND NO MORE!! Washington does not get it yet!!
In conclusion, the attitude that Washington can fix everything has failed us which should not surprise us! This is what was meant in the Declaration of Independence. “…We hold these truths to be self evident, that all men are created equal, that they are endowed by their creator with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness. —- That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed…”
We the people have the responsibility to ensure our government works the way the founding fathers designed it. We the people and the businesses we work for both need to take responsibility and accountability for working hard, designing and producing the best products in the world, at the lowest cost with fairly compensated and rewarding jobs. With this formula, America by the late 1920’s was producing over 40% of the world’s industrial output. Can we do it again? Yes, and it starts with the same limited government as in the past and not the current nanny state!
About the Author: William J. Michie, Jr. has a BS and MS degree in Chemical Engineering from Drexel University and an MBA degree from Rutgers University. He has had a 32.5 year career in Polyethylene Product Development with Union Carbide and Dow Chemical Corp. and is the holder of a number of patents. H. Marsman and D. Madio also contributed to this article.