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What the Trump Administration Misses About Regulations

They produce benefits as well as costs

There is no reason to think about regulations as a zero-sum game.
Joseph Aldy
Tue, 03/21/2017 - 12:02
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President Trump jettisoned more than 30 years of bipartisan regulatory policy on Jan. 30, 2017, when he issued an executive order on “Reducing Regulation and Controlling Regulatory Costs.” The order requires that whenever a new regulation is enacted by any federal agency, regulators must eliminate two rules, so that the cost of complying with the new rule is offset by the costs associated with the two existing rules. But the Trump administration misses a crucial point about government regulations: They impose costs on society, but they also produce benefits. The Conversation

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Submitted by bgj1 on Tue, 03/21/2017 - 08:59

Cost/Benefit Analysis

Trump did not eliminate all regulations or the ability to make more.  The problem has become regulators run amok.  The $2 billion cost to industry versus $100 billion benefit to "society" is a prime example.  The $2 billion assumes that industry will just eat those costs.  Power plants may be an exception to this but, in most cases, it is more likely the affected companies will move to a country where the environmental regulations are not nearly as high and impose a much higher cost on foreign "society" in the form of pollution.  Meanwhile, there are hidden costs to the US "society" in the lost jobs and the human welfare that comes with those jobs.  That $100 billion savings could be dwarfed by the overall cost of lost jobs and all the damage that does to a "society".  Eliminating pollutants that are known to cause cancer and human disease is one thing, but onerous regulations to reduce carbon dioxide is ridiculous.  It can be argued that even if CO2 does cause warming, said warming would be a net benefit (hundreds of trillions?) in that many more die because of extreme cold than because of extreme heat.  Regardless of that argument, putting a brake on and reversing some of the over-regulation of the last decade will only be a good thing for the US (net benefit of hundreds of trillions?).  Regulators have a habit of overdoing it to justify their existence.  I have seen that with safety regulators within companies.  Once the obvious problems are rectified, many poorly managed companies who create full time jobs for these safety regulators end up having to deal with the undue costs that are created with the ever "improving" safety that is created.  This doesn't happen in well-managed companies, but does anyone want to make the argument that the federal government is well-managed?

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Submitted by THESAGEED on Fri, 03/24/2017 - 13:03

In reply to Cost/Benefit Analysis by bgj1

CO2 does not cause Global Warming

Using a sheward control chart and basic chemical/physical laws I can show that CO2 is not causing Global warming - it is unscientific to think it does.  it is mearly a symptom of global warming. it was unwise for the EPA to label it as a polutant. Any carbon  related regulation should be eliminated because there is no benefit derived from regulating CO2 emissions. The costs to society and business outweight any benefit.

One other thing. any dollar value or benefit derived from a regulation (non-safety) is mere speculation and based upon faulty assumptions. I question any number coming from the government.

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