"I think the answer is no," [MN representative Keith] Ellison said when asked if he believes regulations kill jobs. "And here is why: When we talked about increasing fuel efficiency standards, the industry responded, and they need engineers and designers and manufacturers, and they need actually more people to help respond to the new requirement."
"I believe if the government says, look, we have got to reduce our carbon footprint, you will kick into gear a whole number of people that know how to do that or have ideas about that, and that will be a job engine. I understand what you mean, because if anything adds a cost to a business, you could assume that that will diminish that business’s ability to hire. But I don’t think that’s actually right. I think what businesses want is customers and what — if they are selling product, if they have a product to sell they will do well even if they have some new regulations to meet," the Congressman said.
There is a lot about economics we still do not understand, but one thing we are pretty certain about is that shifting labor and investment from productive to unproductive activities destroys wealth and reduces economic growth. Of course, since much of the press is at least as ignorant on economic fundamentals, they just nod sagely.