risks and benefits
Sep. 27th, 2003 01:38 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
sisyphusshruggedvia Calpundit:
the OMB has issued a report officially changing its mind about the impact of environmental regulations over the past decade:
That's a big turnaround: the last OMB report estimated benefits at about $25 billion. Maybe they ought to take another look at greenhouse gases, eh?
But here's part two:
Did you get that? The regulations fall into eight major categories, and the benefits far exceeded the costs in every single category. This analysis includes every major federal rule enacted since around the beginning of the Clinton administration, and even given the fact that cost-benefit analysis is a very imperfect science, that's a remarkable finding. I can hear the libertarians going nuts already.
Next week, here on the internet, we will be showing The Silence of the Libertarians. Jodie Foster stars as Jane Galt, a young but intrepid investigator from the Federalist Society searching desperately for the madman who's skinning the american economy. Tension rises as she tries to get to him before someone stops him. Costarring Glenn Reynolds as the not-so-mad doctor who eats the breeding stock with fava beans and an Anchor Steam.
the OMB has issued a report officially changing its mind about the impact of environmental regulations over the past decade:
The report, issued this month by the Office of Management and Budget, concludes that the health and social benefits of enforcing tough new clean-air regulations during the past decade were five to seven times greater in economic terms than were the costs of complying with the rules. The value of reductions in hospitalization and emergency room visits, premature deaths and lost workdays resulting from improved air quality were estimated between $120 billion and $193 billion from October 1992 to September 2002.
That's a big turnaround: the last OMB report estimated benefits at about $25 billion. Maybe they ought to take another look at greenhouse gases, eh?
But here's part two:
This year's report provided cost-benefit analysis on 107 major federal rules approved during the past decade dealing with agriculture, education, energy, health and human services, housing, labor, transportation and the environment. In all cases, the benefits far exceeded the costs of implementing the rule.
Did you get that? The regulations fall into eight major categories, and the benefits far exceeded the costs in every single category. This analysis includes every major federal rule enacted since around the beginning of the Clinton administration, and even given the fact that cost-benefit analysis is a very imperfect science, that's a remarkable finding. I can hear the libertarians going nuts already.
Next week, here on the internet, we will be showing The Silence of the Libertarians. Jodie Foster stars as Jane Galt, a young but intrepid investigator from the Federalist Society searching desperately for the madman who's skinning the american economy. Tension rises as she tries to get to him before someone stops him. Costarring Glenn Reynolds as the not-so-mad doctor who eats the breeding stock with fava beans and an Anchor Steam.
