Most people have heard the phrase “chilling effect” in connection with free speech. The idea is that vague laws can cause people to stop speaking out of fear that they might say something that violates the law.
We have heard several prominent business leaders — such as Home Depot co-founder Bernie Marcus and Subway founder Fred Deluca — state that they could not have started their amazingly successful businesses if they had to do it in today’s regulatory environment. This is alarming, and it is important to get a concrete sense of how regulations are killing the potential Home Depots and Subways of tomorrow.