From the LA Times:  
A study puts the tab for the state's economy at $492 billion a year. But critics say the study doesn't take into account the benefits the regulations may have.... David Neumark, professor of economics at UC Irvine, said the study's methodology, if applied to other states in the Forbes rankings, would wipe out smaller states' economic activity many times over. "I am not disputing that regulations impose some costs. They surely do. And we should be asking which regulations are worth the costs they impose," said Neumark, a senior fellow at the Public Policy Institute of California. "But policy debate is not furthered by grossly exaggerated numbers that have no basis in reality."  
 
For the full story, please visit http://www.latimes.com/business/la-fi-smallbiz13-2009oct13,0,724317.story.