Regulation has become a growing issue in America, especially for small businesses. If we look back to the time of our founding fathers, we see that this is not at all how they intended America to be. In fact, we separated from Britain for similar reasons – unreasonable taxes and regulations on items and businesses. Our founding fathers saw that if the people of a country are not free to prosper, the country and/or its government will become weak.
There are reasons to expect a favorable effect of import liberalization on industrial productivity. This is expected to occur through several channels: (a) Import liberalization will provide to industrial firms greater and cheaper access to imported capital goods and intermediate goods (embodying advanced technology), which will enable the firms improve their productivity performance; (b) Greater availability of imported intermediate goods will enable the firms to exploit better the productivity enhancing potential of