The CEO of a large industrial company recently described the Trump administration as “the most pro-business since the Founding Fathers.” It’s a popular perception in the business community, with or without the hyperbole, and the stock market is reacting accordingly. While some might be enthused by the potential for corporate tax reform or a (promised) $1 trillion infrastructure investment plan, it’s more likely they’re referring to the historic rollback of regulations in the works across many sectors, from fossil fuels to mining, guns, and finance. It’s taken as an article of faith that this is good for business. But slashing our health, environmental, and societal protections is only “pro-business” in the narrowest of terms, and only in the short run.