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James Fetzner and Gregory M. Randolph

Regulation impacts the activities of entrepreneurs in a fundamental and continuous way. Scholars and policymakers have considered the impact of regulation and attempting to promote regulatory reform for decades, with only modest success on both fronts. We seek in this chapter to delve deeper, and afresh, into this critical subject matter in hopes of stimulating creative academic and public thought and conversation. Regulation at the federal level in the U.S. is examined through the utilization of several regulatory survey studies. The rationale for the use of regulation is discussed, focusing on the costs and benefits associated with different methods available to address economic and social problems. The chapter concludes by providing an overview of the current regulatory process in the U.S. and reviewing potential reforms aimed at improving regulatory performance. Keywords: Regulation, entrepreneurship, regulatory reform