Government Regulation Laws Rule Guidelines Restrictions
When Montana Refused to Have a Speed Limit
How Much of Your Life Is Over-Regulated?
I often talk about the five great inventions man has produced. Those five are the automobile, flight, electricity, telephone, radio, and TV.
How many of these great inventions are regulated or controlled by the government?
Answer: All of them.
Definition of Regulation
One definition of regulation is, “Regulation creates, limits, constrains a right, creates or limits a duty, or allocates a responsibility.”
Another definition from Dictionary.com is “a law, rule, or other order prescribed by authority, especially to regulate conduct.”
According to the Competitive Enterprise Institute (CEI), “Federal Regulations Take $1.8 Trillion Bite Out of US Economy,” in 2014. Imagine how much that is today.
That’s a pretty big bite. Are all those regulations necessary?
For a time, Montana had no speed limit. Was it the end of the world?
In 1974 during the oil embargo, President Nixon imposed a 55 MPH speed limit, so Montana came up with a $5 fine if the Montana…