Whether to consider harms to foreign countries and future generations is controversial. So is how much weight to give harm to the poor.
Should regulators take into account harm to people in other countries? What about harm to future generations? Should we give special attention when the disadvantaged are harmed? These questions are central to climate policy and some other important environmental issues. I’ll use cost-benefit analysis as a framework for discussing these issues. You probably don’t need …CONTINUE READING
EPA is right to include climate impacts on foreign countries in its cost-benefit analysis of regulations.
When a regulation benefits people outside the U.S., should those benefits be counted? Or should a cost-benefit analysis include only positive and negative domestic impacts? As a recent paper by Ted Gayer and Kip Viscusi highlights, EPA has been counting the benefits of restricting carbon emissions for the entire world, not just the U.S. …CONTINUE READING