79-03-A3
- Main Page \ Reagan Radio Commentaries \ 1979
| << Previous Broadcast | Next Broadcast >> |
Deregulation[edit]
Transcript[edit]"Deregulation" is talked about a lot these days. The President says he's for it, and there has been a spate of articles about the costs and bad effects of regulation. Still, I don't know how much deregulation we can afford, if natural gas is any criterion. The natural gas "deregulation" bill Mr. Carter signed provides for eight new categories of regulated fuel, and none of the deregulation starts till 1985 -- with options for further postponement if the then-President so decides. All this brings to mind the Federal Trade commission. Created in 1914, it was supposed to prevent false or deceptive advertising and unfair competition. The FTC was the second of the so-called independent regulatory agencies, but unlike the first (the Interstate Commerce Commission), it wasn't confined to a single industry. Rather, its reach covered a whole segment of the economy. How, "independent" is the FTC? My friend Casper Weinberger tells of the time he was asked by the Senate committee which was considering confirmation of his nomination to the commission, he understood that the commission was "unwise enough" to reply that he though it was independent and an arm of neither. That lengthened the hearing by several hours. "Cap" Weinberger also recalls being asked by a Congressman if he thought the commission needed any additional powers. He says, "I replied that I could not think of any because the existent mandate of the FTC was broad and sweeping." As a result of its broad mandate, the FTC has spent years trying to prove that Carter's Little Liver pills don't have all the curative properties their old ads claimed; and that Campbell Soup can't take pictures of its vegetable soup with the ingredients artificially raised to the top of the bowl. Lately, the FTC has also been considering whether television advertising should be permitted on children's programs. It has also adopted rules which nullify state laws and forbid compliance with those laws. We are all concerned with the fight to stop inflation, yet, next to government spending, one of the mightiest forces driving prices up is unregulated government regulation. When individual federal agencies require compliance with rules and orders to cover everything from housing to such matters as requiring Dow Chemical to lower all plant railings from 42 inches to the OSHA standard of 30-34 inches (though studies showed the higher railing were safer) you have an inflationary force running out of control. What to do about all this? First, we have to have someone to regulate the regulators, and the President of the United States, the only nationally elected official, seems the most logical candidate for the task. But we shouldn't be beguiled by a President who, having correctly identified the desire of the people for far less regulation, then defines "deregulation" of natural gas as eight new varieties of regulation. This is Ronald Reagan. Thanks for listening. |
Details[edit]
| |||||||||||
Added Notes[edit] |
