Some people are saying that we really don't know how to make the economy grow. I'm sympathetic to the idea, but I also suspect that some, specific steps would help. In particular, how about a regularory holiday?
Amity Shlaes suggest suspending the Wagner Act for two years. What I didn't realize until reading her post is that a majority of Americans, including a majority of union members, support Right to Work legislation. (Update: here's more polling data on this subject).
How about suspending many restrictions on drilling for oil off our coasts, and in Alaska?
Would dropping the minimum wage to $5.00 for people under 25 help lower unemployment? (And should it be 26, in honor of Obamacare?)
Suspending part of the Americans with Disabilities act, or simply restricting its application to people who suffer from serious physical disabilities, would probably help corporate America focus on business rather than lawsuit avoidance.
I bet there are many other regulations the absense of which would help the economy grow. And I haven't even mentioned market friendly health reforms, like allowing people to buy health insurance across state lines.
From a certain perspective, many of our regulations are luxury items. Only a very rich nation can afford them. Thanks to globalization, that might be changing.
Update. Let's not forget the business impact of California's tendency to favor animals over people:
Now, largely at the behest of greens, California agriculture is being systematically cut down by regulation. In an attempt to protect a small fish called the Delta smelt, upward of 200,000 acres of prime farmland have been idled, according to the state's Department of Conservation. Even in the current "wet" cycle, California's agricultural industry, which exports roughly $14 billion annually, is slowly being decimated. Unemployment in some Central Valley towns tops 30 percent, and in cases even 40 percent.