Why This Famous Tightrope Walker Is More Afraid of Government Rules Than Walking Across the Grand Canyon

Allison Schrager argues that rules intended to protect workers can also discourage the risk-taking that drives business growth and innovation. Tightrope walker Nik Wallenda says the cost and complexity of government requirements worry him more than crossing the Grand Canyon without safety equipment, and he fears the rules could threaten his circus.

The article cites Wallenda’s complaints about staffing and waste-disposal requirements, and Schrager’s claim that young Americans increasingly expect security rather than risk. It says the share of young US adults who consider themselves to be thriving fell from 64 per cent in 2010 to 44 per cent, while the US economy is now 40 per cent larger than the EU’s. Schrager also points to more flexible US bankruptcy rules, which she says make it easier for entrepreneurs to recover and try again.