by Bruce Yandle
August 29, 2013
The wet blanket blamed covering our economy might be energy regulation, monetary policy, or health care policy, or credit market controls, or environmental policy. But it is not policy per se that chills the economy—it is uncertainty with respect to policy. Most business people tell me, “Just let us know the rules of the game, and we will figure out a way to play.” It is awfully hard to play the game when rules are being changed without a clue as to when they will become final. Today’s world has enough risk and uncertainty without more being added by Washington.