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Benefit-Cost Analysis in Rulemaking:
Ready for Prime Time? - MP3
Running Time: 00:53:58
Benefit-Cost Analysis (BCA) has been embraced by every President since Richard Nixon as a general purpose tool for evaluating the merits of administrative decisions, even while it has been assigned a subordinate role – or no role at all – in the statutory frameworks for making those decisions. One consequence is that we have a voluminous record of BCA performance in the executive branch, but only a handful of cases in which it has played an important role in judicial review of rules. Now, amid widespread claims that federal regulation is contributing to America’s continuing economic troubles, BCA is getting more attention. As practiced, does it give an accurate picture of the economic consequences of regulatory actions? Should we rely on it or require it, more than we do, to guide administrative discretion? On this previously recorded conference call, our two experts discuss the state of the art and current BCA controversies in energy and environmental regulation, and in financial regulation.
- Dr. Sharon Brown-Hruska, National Economic Research Associates, Inc.
- Mr. Brian Mannix, Buckland Mill Associates
- Moderator: Mr. Dean Reuter, Vice President & Director of Practice Groups, The Federalist Society