Some things are hard to believe. In a recent White House Office of Management and Budget (OMB) report on international regulatory accounting, the United States was ranked among the least regulated nations around the globe. According to the report, when comparing 145 developed countries, "the ten least regulated economies are New Zealand, the United States, Singapore, Hong Kong, Australia, Norway, the United Kingdom, Canada, Sweden, and Japan." These same countries also have rather stable economies and respected governments, providing credence to the philosophy that less is often better.
Perhaps this auspicious conviction is partially responsible for why OMB is already beginning to act on the findings from the report by reviewing 93 environment-related rules using a cost-benefit analysis. The rules to be reviewed were selected from comments made by 41 separate, but mostly industrial groups, including the U.S. chamber of Commerce, the American Iron and Steel Institute, the National Association of Manufacturers and the Alliance of Automobile Manufacturers.