Frederick W. Smith, the founder of FedEx and its current chairman, president and chief executive, shared his views on regulation at the recent Journal of Commerce Inland Distribution Conference.
He claimed that many of America’s current big businesses, such as Walmart, Amazon and FedEx, are able to exist because logistics costs in the country went down from 16% to 10% thanks to deregulation, which stopped inflation from soaring. In addition, Smith said, social benefits like Medicaid and Medicare have been made affordable.
Smith views attempted mergers and acquisitions, such as FedEx’s bid for TNT, as the result of slow growth thanks to state interference. He also criticises the regulation of enterprises based around independent contract labour.
(Source: Commercial Appeal)