#LondonCalling: Government regulation and the American inflation of the last two years. @JosephSternberg @WSJOpinion lth

Nov 24, 01:23 AM

Photo:  The administrative state: The 18th century Department of Excise developed a sophisticated bureaucracy. Pictured, the Custom House in the City of London


#LondonCalling:  Government regulation and the American inflation of the last two years. @JosephSternberg @WSJOpinion lth

https://www.wsj.com/articles/biden-and-the-jerome-powell-inflation-lael-brainard-federal-reserve-11637613794?mod=hp_opin_pos_1

"Bureaucrats tend to have a poor reputation in America, being branded by many as shadow government officials. However, the connotation of being a shadow government or faceless stems from few people being aware of what a bureaucrat is and what their job is. Essentially, a bureaucrat is someone employed by the government and tasked with serving the public. There are 2 types of bureaucrats, and both of them have a different amount and kind of power. The two types are street level bureaucrats and federal bureaucrats. Street level bureaucrats exercise de facto power through influence, while federal bureaucrats are granted de jure power. Both kinds of bureaucrats are important but very few people know what they are and what they do." —https://sites.psu.edu/mromeorclblog/2020/02/21/bureaucrats-what-are-they-and-what-do-they-do/