Risks, Costs, and Lives Saved: Getting Better Results from Regulation

The debate over environmental, health, and safety regulation has reached a new crescendo in the 104th Congress. So impassioned is the debate on occasion, and so high the feelings, that even the tools of regulatory analysis have become part of the combat.To some, the term cost-benefit analysis, for example, is virtually a swearword, a nefarious tool used by big business to undermine regulations aimed at benefiting the people at large. To others, it is the mechanism for achieving more effective regulation at less cost.This new book on the subject of reforming regulation is aimed at increasing the light and turning down the heat. It consists of an introduction and nine chapters written by scientists, public policy analysts, and economists on various aspects of regulation and regulatory analysis.The book advances the latest knowledge and evidence on risk analysis, cost-benefit analysis, and related techniques for improving regulation–all based on experience and data accumulated over the quarter century since regulation in the areas of environment, health, and safety became a major player on the governmental stage. The strengths and limitations of those analytical tools are an important part of the portrait that is painted, but a common thesis is that, properly used, the tools can be helpful in getting better regulatory results.