Richard B. Levine/Newscom As the federal government has piled new regulations on the financial system, lower-skilled employees have been forced out of the industry—a tradeoff that hasn’t necessarily helped consumers.
"It’s just raising the costs," Christos Makridis, a scholar with the Mercatus Center, a free market think tank at George Mason University, tells Reason .
Makridis is one of the authors of a new study , along with Alberto Rossi, that investigates an under-acknowledged effect of federal regulations on the financial services sector imposed since the Great Recession. More regulation has brought increased automation, and lower-skilled workers have been pushed out […]
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