There is a constant tension, Hackett says, between too much regulation and not enough.
Question: Has the credit crisis repudiated the Bush administration’s fiscal policies?
Jim Hackett: No, I don’t think that, because I think there is a constant tension between too much regulation and not enough. I think in most cases too much regulations actually bad, I think as American’s, we become even a bit too comfortable with more comfortable than we should. I think more Europeans at least those that are enlightened, will suggest you that they already huge disadvantages, because there are two government introduced and one of the great I think saving grace in this country is that government, while it has implemented a number of very important social programs, it is still is very picky and choosey about which ones they do. Therefore, any argument I think that says that more regulation is a wonderful thing and they can prevent all abuses I think it is a bit, now even that very historically based in my view, because we had tremendous periods where government regulations has been doing necessary and good, from the old trespassers in the roads around to wider administrations under the new roads develop, but I think generally speaking those were caused by events that had to be regulated, particular I am trying to find new places to regulate to actually see a problems that tough equation. It is for you and I to think that bureaucrats are better at running our economy than the participants that is the best scratch for me.
Recorded On: 3/24/08