Challenges of Implementing Regulatory Changes

Significant hurdles exist in the quest for radical reductions in federal regulations, as highlighted in the discussion. It is acknowledged that a quick change in the administrative state is unrealistic due to the complexity of the existing regulatory framework. The need for talented individuals who can navigate the bureaucratic landscape is emphasized, as many past efforts have fallen short despite high expectations. As the speakers note, convincing the public or businesses to support deregulation is challenging, especially when those already complying with regulations see them as protective barriers against competition.