Once again, Professor Walter Williams hits the nail right on the head, exposing the unseen costs of regulation. This example caught my eye because I just flew with an infant last week:
The National Transportation Safety Board has again recommended that airlines require a separate seat for all children, regardless of age, eliminating the current practice of permitting children under the age of 2 to fly for free on the lap of a parent. Will mandating child restraint systems make air travel safer? The answer is probably yes but that’s the visible. Having to purchase an extra airplane ticket, some families will opt to drive to their destination instead. Thus, mandated CRS will force some families to switch to a less safe method of travel and some highway fatalities will represent the invisible victims of NTSB policy. By the way, if parents wanted a greater measure of safety for their infant, it’s available to them right now. They can purchase a seat and seat restraint for their infant.
What do you think about the NTSB regulation? What about the FDA? Is the cost of dangerous drugs greater than the cost of banning effective drugs?