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DAILY NEWS FETCH - December 21, 2016
CREATED BY WINE INDUSTRY INSIGHT & MADE POSSIBLE BY OUR SPONSORS
Publisher/Executive Editor, Lewis Perdue -- Editor, Becca Yeamans-Irwin
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TODAY'S TOP NEWS
$245 billion/yr in regulations: One factor behind the economic recovery that never happened. Scroll down to Daily Data for more.
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FEATURED REAL ESTATE FROM WINE INDUSTRY INSIGHT
This feature sponsored by: WineryX Real Estate
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CRAFT BEVERAGES: BEER, CIDER, WINE & SPIRITS - A Sampling of Today's Headlines
Get the rest of today's craft news at Craft Beverage Insights
- US hops set acreage, production value records
- Craft Beer Research and Service Grants
- Kombucha Brewers Reach Agreement with New York State
- MillerCoors defends ice beer ads from critics
- What Did Brewers and Beer Lovers Want to Know in 2016?
GIVE US THIS DAY OUR DAILY DATA
$245 billion/yr in regulations: One factor behind the economic recovery that never happened.
Source: Gallup Special Report: "No Recovery: An Analysis of Long-Term U.S. Productivity Decline"
From the report text accompanying this chart:
"OMB does not estimate which industries bear the burden of these regulations, but it is likely that they generally decrease profits and thus have a somewhat dampening effect on entrepreneurship. OMB does estimate benefits for each year, and these benefits are generally much higher than the costs, and each new regulation has to pass a cost-benefit ratio. "One problem, however, is that these benefits are unlikely to contribute to economic growth in the same way as the costs detract from it. Many of the benefits come from projections for saving lives, and the benefit of saving one statistical life is often close to $7 million. "While that may be a valid measure, saving a statistically average life has little or no effect on GDP per capita on the margin, because a death changes the numerator and the denominator. It has the same effect as the average worker moving abroad. "It makes sense to accept slightly lower economic productivity — using conventional measures — in exchange for a safer society, but it would be misleading to suggest that these regulations boost productivity because the benefits exceed the costs. "Moreover, as Michael Mandel and Diana Carew have argued, the cost-benefit calculations performed by OMB for regulations take place in isolation of their interaction with existing regulations, but interactions and accumulations can create massive challenges in complexity as firms spend more time on compliance and less time on productive business activity."
NEWS FETCH PLAYLIST:
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Becca liked this song best: Pretty Paper by Willie Nelson
TODAY'S FEATURED WINE
2015 Honoro Vera Monastrell from Jumilla, Spain. A little smoky on the nose, red fruits and a hint of cocoa. Made with organic grapes. Nice value wine at $10.99. -B
This NewsFetch was hand-crafted for you by Editor Becca Yeamans-Irwin (The Academic Wino) and Publisher/Executive Editor, Lewis Perdue.
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