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Two years ago, a pair of well-meaning economists, Richard Morgenstern and Winston Harrington, who work at the moderate think tank Resources for the Future (RFF) got a large grant from the Smith Richardson Foundation to convene a group of well-credentialed academics to consider how to improve “cost-benefit analysis” (CBA). Unfortunately, their long-awaited report, released at […]

More than 100 groups and individuals have accepted the invitation from the Office of Management and Budget (OMB) to comment on the new Executive Order on Regulatory Review that the Obama Administration is currently considering.  The extended submission deadline is March 31.  So far, the comments reflect a strikingly wide dividing line between regulatory opponents, […]

In his appearance on Jay Leno’s show last night, President Obama argued (video, transcript) for financial regulations by making a comparison between credit cards, mortgages, and toasters: “When you buy a toaster, if it explodes in your face there’s a law that says your toasters need to be safe. But when you get a credit […]

The financial cataclysm gripping the country is often (and rightly) blamed on a lax system of public and private oversight of financial institutions. On the private side, investors trusted huge auditing companies like Arthur Anderson to rate multinational corporations for fiscal soundness. Meanwhile, Arthur Anderson also took handsome fees from the same corporations to conduct […]

The Office of Management and Budget (OMB) invited public comments on the design of its new Executive Order on regulatory review, and CPR has now submitted our recommendations. We urged the Obama Administration to make fundamental changes in how OMB and prospective “regulatory czar” Cass Sunstein operate. We're hopeful that the new Administration will convert […]

Late last week, I sent a letter to Peter Orszag, Director of the White House Office of Management and Budget that, among other things, called on OMB to allow for public participation in the design of its new Executive Order governing federal regulatory review. I’m happy to see that OMB has decided to do just […]

The following is cross-posted by permission from Executive Watch, a blog maintained by the Duke Law School Public Law Program.   Every time the presidency has changed parties in recent years, the outgoing president has issued regulations in the final months of his presidency implementing policies at odds with the policies of the incoming president.  […]

Time Magazine has a piece this week on Cass Sunstein’s likely nomination to be the Obama Administration’s “regulatory czar” (director of the Office of Information and Regulatory Affairs) and the debate over the use of cost-benefit analysis it has touched off. Despite Professor Sunstein's progressive views on most issues, progressives are concerned that his methods […]

In recent weeks, an unusual convergence of events has served to elevate somewhat the public profile of cost-benefit analysis (CBA).  Before then, CBA was an obscure and highly complex tool of policy analysis—the kind of thing that hardcore policy wonks would wonk about when the subjects of their usual policy wonkery weren’t wonkish enough.  Foreseeable […]