National Association of Manufacturers (NAM)
Commentary
Cry Wolf Quotes
The Securities Act of 1933 created a serious obstacle to recovery, through its drastic regulation of the issuance of new securities by private enterprise. The Banking Act of 1933 created an additional impediment through the provisions of Section 16 prohibiting the national banks from participating in underwriting securities after June 16, 1934.
Centralized control could not take into account the wildly divergent conditions, hazards, processes, and environmental problems which may be peculiar to a given industry or given geographic area.
Removing the caps on damages sought by plaintiffs would likely prompt employers to protect themselves by purchasing expanded legal liability insurance. That added burden of insurance would increase the cost of doing business in the United States and may result in a reduction of employees’ wages and benefits and/or the hiring of fewer workers.
[The proposed ‘comparable’ work standard is] so general and so vague as to give an administrator a grant of power which could destroy the sound wage structure which many industrial companies have worked for years to perfect.
Evidence
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Regulations at Work: Five Rules that Save Workers’ Lives and Protect their Health
This paper looks at five worker-safety regulations that were tremendously successful in reducing employee injuries, illnesses and fatalities.
