LONDON -- Consumers everywhere are demanding deregulation. Most competitive businesses also want red tape and unnecessary regulation eliminated. Only the inefficient and uncompetitive, who believe that they are protected by rules restricting competition, are against the deregulation of their businesses.
Many European economies are suffering in much the same way as Japan from bureaucratic over-regulation, either by their own governments or by the European Commission. Generally, the main difference is that the rules in Europe are more transparent than those in Japan. But the complexity of the rules and their number are just as daunting to businesses. Accountants and lawyers are the only real beneficiaries of the regulation maze.
Labor regulations in Europe -- limits on working hours, health and safety rules, requirements governing equal opportunities for men and women and the avoidance of racial discrimination, and provisions against unfair dismissal -- are, in principle, all sensible requirements. Businesses, however, are forced to spend too much time and effort trying to keep up with changes and enforce existing rules.