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Shihab Al Jabri's avatar

Interesting read Dr. Abdullah, do you believe that political forces manipulating markets to increase barriers to entry is a global issue? If so, what strategies can be implemented to reduce such influences? Especially in countries where a small number of the general population control most industries

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EconWebb's avatar

It is ironic. I will say that even in Texas it was not as easy as people think to open a business. We had to get the health department certified, ensure proper zoning, have a grease trap plan (for a cookie shop by the way), maintain certified labor requirements... the list went on and on. Thatvwas in Texas. I know someone trying to open a bakery in California and they have been dealing with it for 3 years. My wife constantly gets told she should open a bakery (like on Thursday this week), but we know the high quality product is not the only thing to consider. We will never have a customer facing business again due to the litany of odd and subjective things local governments do. This was a simple business to provide a place for my wife's baking talent. Not something like a redundancy reduction business or advancement in medical care. How many more talented people are simply doing things for themselves rather than advancing the market. Incentives matter.

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