The Competitive Enterprise Institute is out with the latest in a series of industry-friendly reports overcooking the supposed costs of regulation, while understating or simply ignoring the vast benefits to health, safety and the environment. Not surprisingly, The Wall Street Journal and The Washington Times were good enough to put the right-wing echo chamber in motion in its service.
A few quick thoughts: This report isn’t scholarship, it’s arithmetic advocacy—and it’s poor arithmetic at that. The organization that sponsored the report is more concerned with advancing its political agenda of laissez faire government at all costs than it is with sound public policy. This report is meant to advance that agenda, rather than inform the ongoing debate over the U.S. regulatory system. After all, what good does it do to tally up the costs of regulation without providing an estimate of regulatory benefits with which to compare them? Policymakers and the media would do well to ignore this report.
The report’s findings appear to be based on several inflated regulatory cost estimates, lined up and added together to produce exactly what the author likely intended: a huge number. Some of the numbers come from estimates produced by regulatory agencies themselves, which several retrospective studies have shown to be systematically inflated. Others come from individual reports assembled by the author. To the extent that the CEI report is based on several different sources that relied on a variety of different methodologies, there is a large possibility that simply adding them up will result in a lot of double counting, further inflating the CEI report’s conclusion. The author of the CEI report, however, appears to make no effort to address this problem either.
Help CPRShowing 2,864 results
James Goodwin | May 13, 2015
The Competitive Enterprise Institute is out with the latest in a series of industry-friendly reports overcooking the supposed costs of regulation, while understating or simply ignoring the vast benefits to health, safety and the environment. Not surprisingly, The Wall Street Journal and The Washington Times were good enough to put the right-wing echo chamber in motion in its […]
| May 12, 2015
Spring is here in the Chesapeake Bay Watershed, which means plenty of sunshine ahead, and not just in the weather. Several important government transparency actions taken by the Maryland General Assembly before it adjourned the 2015 legislative session a few weeks ago will provide Marylanders with greater access to state records and shed new light […]
| May 6, 2015
As many scholars have noted (see here and here, for example), the Federal Power Act’s bright line jurisdictional split between “retail” sales of electricity (regulated by states) and “wholesale” sales (regulated by the Federal Energy Regulatory Commission) is untenable in the modern era. The interconnected nature of the electric grid – electricity flows freely throughout […]
Robert Verchick | May 3, 2015
Almost a decade after Hurricane Katrina, New Orleans-area residents are still trying to hold their government accountable for mistakes that allowed a monstrous flood to devastate their city. Last week, in a case called St. Bernard Parish v. United States, a federal judge helped their cause. In a dispute involving a major navigation channel controlled […]
Rena Steinzor | May 1, 2015
With the announcement that GM Chief Executive Officer Mary Barra received the outsized compensation of $16.2 million in 2014, what should have been a year of humiliation and soul-searching for that feckless automaker instead ended on a disturbingly self-satisfied note. Purely from a public relations perspective, Barra worked hard for her money. Appearing repentant, sincere, […]
John Echeverria | April 29, 2015
Who could have imagined that the takings case of Horne v Department of Agriculture argued in the Supreme Court last week might portend revival of the doctrine of public trust ownership of wildlife? But it might. Really. The Horne case involves a claim that an arcane raisin-marketing program administered by the Department of Agriculture effects a taking by requiring […]
Kirsten Engel | April 27, 2015
Further reflections on the April 16th Oral Argument in Murray v. EPA and West Virginia v. EPA In an earlier blog entry, I predicted that the D.C. Circuit will refuse, on standard administrative law grounds, to consider the arguments of the petitioning states and coal and utility companies for overturning EPA’s proposed Clean Power Plant rule. In short, […]
Sidney A. Shapiro | April 27, 2015
The Bureau of Labor Statistics (BLS) has reported that the occupational fatality rate of 3.3 deaths per 100,000 workers for 2013 was the lowest reported rate since the BLS started using its current tracking methodology in 2006. That’s good news, but we’ve got a very long way to go still. The simple truth is that […]
Robert Verchick | April 23, 2015
Nearly five years ago, BP introduced a flippered mammal Americans never knew we had: the Gulf Walrus! If you don’t know the story, you should, because the tale of the Gulf Walrus tells you everything you need to know about what was wrong with deepwater drilling back in 2010, and worse, still is. The story […]