My ?Daily Journal? column yesterday over at Carolina Journal Online about regulations left me thinking about the privilege-license tax imposed by most North Carolina localities, which I argued against. Then I saw a piece in The Freeman by my friend Larry Reed, who runs the Mackinac Center for Public Policy up in Michigan. He visited Vietnam in February and noted that ?when over a hundred business licenses were abolished in 2000, more than 10,000 new companies were registered within months.?
Reduce the cost of creating businesses, and you got more of them ? even in ?communist? Vietnam, which as Larry says is growing increasingly capitalist.
