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Government’s New Standards for Regulation January 18, 2011

Posted by federalist in Government Regulation.
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WSJ today printed a promising essay by President Obama outlining his administration’s new approach to regulation. Granted, in government it’s a long way from good principles to good practice. And it’s hard even to draw coherent principles from the meandering examples in his essay. The strongest theme seems to be ‘balancing the costs and benefits of regulation,’ which works well when those costs and benefits are objectively assessed, but poorly when the Precautionary Principle takes over.

Nevertheless, we’re in for a treat if government regulation “… means using disclosure as a tool to inform consumers of their choices, rather than restricting those choices.”

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