Dissatisfaction with the Regulatory System

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This essay outlines the successes and failures of three major regulatory undertakings in the past two centuries, specifically the Sherman Anti-Trust Act of 1890, the Securities and Exchange Act of 1934, and the Unfunded Mandates Act of 1995.

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""The harm done by ordinary criminals, murderers, gangsters, and thieves is negligible in comparison with the agony inflicted upon human beings by the professional do-gooders, who attempt to set themselves up as gods on earth and who would ruthlessly force their views on all others- with the abiding assurance that the end justifies the means." This quote, from Henry Weaver's book, The Mainspring of Human Progress, uses a radical contrast to explain the broad dissatisfaction with the current regulatory system. With each shift in political party dominance, legislation is pushed to become law by Congress and the House, reflecting the politically charged social, political and economic ideals of the dominant party. As easily as a majority vote can put these laws into effect, a switch in party domination and a new majority can just as easily reverse the times. As Cindy Skrzycki states in her book, The Regulators, 'there is broad dissatisfaction with the system, and someone is always trying to fix it." (Skrzycki 2003, 136). Over the past two centuries, there have been major reforms that have dealt with inadequacies or shortcomings of the system, and which attempt to reform specific aspects of life. This essay will outline the successes and failures of three major regulatory undertakings in the past two centuries, specifically the Sherman Antitrust Act of 1890, the Securities and Exchange Act of 1934, and the Unfunded Mandates Act of 1995."

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