A Quote by Austan Goolsbee
Applying cost-benefit analysis to regulation is no different than what most regulatory agencies do.
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That is, while we believe that cost-benefit analysis is an important tool to inform agency decision making, the results of the cost-benefit analysis do not trump existing law
That is, while we believe that cost-benefit analysis is an important tool to inform agency decision making, the results of the cost-benefit analysis do not trump existing law.
One effect of benefit-cost analysis is to give any respectable engineer or economist a means for justifying almost any kind of project the national government wants to justify... Exclusive reliance on benefit-cost analysis has been one of the greatest threats to wise decisions in water development.
Regulation has gone astray. . . . Either because they have become captives of regulated industries or captains of outmoded administrative agencies, regulators all too often encourage or approve unreasonably high prices, inadequate service, and anticompetitive behavior. The cost of this regulation is always passed on to the consumer. And that cost is astronomical.
The Internet is the first technology since the printing press which could lower the cost of a great education and, in doing so, make that cost-benefit analysis much easier for most students. It could allow American schools to service twice as many students as they do now, and in ways that are both effective and cost-effective.
A focus on regulatory overreach, things that the benefit doesn't outweigh the cost, is probably the single greatest opportunity we have for having a positive impact on job creation.
Each country its cost analysis is going to be different. So what we are you seeing in Syria, for example, is different than what's going on in Jordan. The maps are being rewritten.
Now in business we do a cost benefit analysis before we make policy changes. Washington should as well.
I believe there are a lot of questions today that require expert analysis by various agencies: political agencies, foreign ministries, economic agencies and security agencies. We need to assess everything and understand what we can agree on and what the implications will be both for Japan and for Russia so that both the Russian people and the Japanese people come to the conclusion that these compromise solutions are acceptable and are in our countries' interests.
About the only useful thing my economics degree taught me was that, in all decisions in life, you have to do a cost-benefit analysis.
[The Freedom of Information Act is] the Taj Mahal of the Doctrine of Unanticipated Consequences, the Sistine Chapel of Cost-Benefit Analysis Ignored.
Yet the basic fact remains: every regulation represents a restriction of liberty, every regulation has a cost. That is why, like marriage (in the Prayer Book's words), regulation should not "be enterprised, nor taken in hand, unadvisedly, lightly, or wantonly"
Gambling interests hire lots of economists to do impact studies, but what you need is cost-benefit analysis, and you'll never see the industry finance those
Republicans are right to express concern about excessive regulation, and they can do a lot to reduce it, above all by scrutinizing rules on the books and by putting all new proposals through a cost-benefit filter. There's room for plenty of creativity here.
One would think that the record of already existing regulatory agencies is sufficiently eloquent in showing that it is Big Business that does the regulating rather than vice versa .
There are certain pressures and things that change your life to a degree that, in the cost benefit analysis that constantly goes on, sometimes makes you think, 'Maybe I should just leave.'
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