Dr. Per Bylund's book "The Seen, the Unseen, and the Unrealized" which capitalized on Bastiat's views. Regulations put in place have effects on the economy as well as a community as a whole. These changes can have either direct or indirect consequences. An example of this would be COVID restrictions. Due to COVID, it's harder to obtain goods being imported which has lead to a shortage in many items. This has had a negative effect on the supply side of economics. However, there are cases where regulations don't have an influence. This is because it would be considered an ineffective regulation.
At times, I feel as though the government may want to purposely enact strict regulations to obtain power. An example of this would be how the Michael Bloomberg placed a ban on Big Gulp sodas. He had a good intention to help people become healthier, but it isn't the government's job to regulate that. It should be up to the discretion of the consumer to get a big soda or not. Another example is when President Biden shut down the Keystone pipeline. This forced America to obtain oil from other countries, and those countries can decide how much oil we get. This in turn effects the economy because the countries that provide us with oil can set the prices for oil. In a way, this is a sanction on our own country. These regulations would be considered effective as Dr. Bylund suggests.
Although some regulations have good intentions to begin with, like I mentioned before, regulations can end up having bad consequences. There are instances where too much regulation can hurt the poor community. This is because regulations can lead to high prices, and those with lower incomes would have a harder time buying necessities. However, when there are regulations that aim to help the safety of workers, those have beneficial effects. There is a lack of regulations on our beauty products in America. Carcinogens are known to be in some products of makeup, but those products aren't taken off the market because it is not regulated enough.
I enjoyed reading Dr. Bylund's book because it helped me realized that some regulations are good and some are bad for our country.
