From corporate favoritism to licensing and regulation, government should, by and large, get out of the way of the economy, rather than trying to manipulate it so they can take credit when it succeeds.
Certificate of Need (CON)
Certificate of Need (CON) laws force new providers to obtain government permission to enter a market.
Corporate Favoritism occurs when some businesses receive special, favorable treatment in tax law, regulation, or subsidies that other businesses do not receive. The 1889 Institute is compiling a catalog of these special favors provided in Oklahoma.
Occupational Licensing limits work opportunity, redistributes income from lower to higher income individuals, increases the cost of living, limits innovation, and leads to more licensing.
Regulation can be used as a weapon against potential competition by making it more difficult to enter markets and compete.
Tax Increment Finance Districts
Tax Increment Finance Districts (TIFS) redirect general community sales and property taxes to projects directed by the TIF. TIFs scavenge jobs from other communities and other areas within a community.
Government Privilege and Abuse
Government Privilege and Abuse, an especially pernicious form of cronyism, occurs when government agencies’ powers exceed what is reasonable and proper under state and federal constitutions and in a free society.