INCREASING GOVERNMENT INTERVENTION
In the aftermath of the crisis, regulation has increased in all sectors of the economy: financial, environment, data protection, health, transportation, and corporate governance. In turn, with massive public debts, governments are going to squeeze businesses for every penny they can, resorting to more blackmail-like practices if necessary.
With this increased intervention comes increased scrutiny and paperwork. Starting in 2011 in the U.S., credit card companies must report all transactions to the Internal Revenue Service (IRS). And starting in 2012, companies will have to file 1099 forms for all combined transactions over $600. This means you’ll have to file paperwork if you’ve spent $600 collectively over a year with a restaurant or office supply firm.
All this government intervention means that lobbying will be a major growth industry! At the same time, more and more firms will move to places like Estonia, Hong Kong, and Panama that have enacted business friendly policies.
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