regulatory policy
The Dietary Supplement Scandal
There are 65,000 dietary supplements on the market, and almost half the population uses at least one of them. Americans spent $13 billion on dietary supplements last year, according to the Washington Post. There are disturbing indications that nearly all that money is wasted — or to put it more bluntly, that the industry is essentially …
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CONTINUE READING“You’re Just Not My Type (of error)”
Most people find statistics off-putting — who wants to look at a bunch of numbers? And Statistics courses, which are required for students in many majors, are usually viewed as a painful box to check. But when you put aside the numbers and the technicalities, statisticians also have some simple yet powerful concepts. One of …
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CONTINUE READINGThe Role of Permits in the Regulatory State
The structure of permitting programs can make a big difference for the implementation of environmental law
Author’s Note: The following post is co-authored by Eric Biber and J.B. Ruhl, the David Daniels Allen Distinguished Chair of Law and the Co-Director of the Energy, Environment, and Land Use Program at Vanderbilt Law School. This post is cross-posted at Reg Blog. Reg Blog, supported by the U Penn Program on Regulation is an …
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CONTINUE READINGThe Food Safety Paradox
As Tom McGarity documents in his recent book, Freedom to Harm, the American food safety system is in disarray. You’d think we’d all be wiped out by food poisoning. Yet, the rate of sickness caused by bad food seems to have remained constant since the mid-nineties. What’s going on? McGarity and others are right about the …
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CONTINUE READINGWhy Pollution Regulations Aren’t Taxes
Opponents of environmental regulations love to call them hidden taxes. But constant repetition doesn’t make this idea true.
If you’ve seen a statement that regulations are hidden taxes, that’s not too surprising. Googling “regulation hidden taxes” produces over three million hits. But in fact, pollution regulations and taxes are completely different. The reason is simple. A tax removes value from the private sector. Environmental regulations simultaneously remove value from one part of …
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CONTINUE READINGOn our reading list: Market framing and morality
Economists offer experimental evidence that market transactions blunt moral intuitions
Take my views on this study with a grain salt, because it confirms my priors. I’ve long agreed intuitively with Mark Sagoff that people make different choices in market settings than in more public-regarding settings. And I’ve been fascinated over the years by the empirical evidence that confirms that intuition, including the work of Samuel …
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CONTINUE READINGKing Coal’s Fading Grip
According to a new study from Duke, coal may be on the way out. as “[l]ow natural gas prices and stricter, federal emission regulations are promoting a shift away from coal power plants and toward natural gas plants as the lowest-cost means of generating electricity in the United States.” The authors estimate that “the economic …
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CONTINUE READINGWho’s Afraid of Environmental Regulations? (Not Small Businesses)
There has been a lot of chatter about the burden of regulations on small businesses. It turns out that small business owners do worry about regulations a lot — but not so much environmental regulations. According to a new survey, what they really care about are licensing and tax regulations. Environmental regulations just don’t matter much.
CONTINUE READINGOMB’s Dubious Claim to Regulatory Expertise
The head of OIRA – the Office of Information and Regulatory Affairs at OMB– is often called the White House’s regulation czar. OIRA is charged with reviewing the cost-benefit analysis of all major government regulations. This task is all about economics. Yet OIRA has never established the kind of reputation for economics expertise held by …
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CONTINUE READINGGreat Expectations: A Dozen Views of Obama’s Second Term
As we approach inauguration day next month, I thought it would be interesting to pull together the advice that people are giving him about his second term. Here are some links if you’re interested in what people are hoping for (or in some cases, dreading). From the N.Y. Times, the views of Carol Browner (advocating …
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