As economists got better at measuring the benefits of regulation,” Stuart Shapiro, a onetime OIRA analyst and now professor of public policy at Rutgers, observes in The Regulatory Review, “benefit-cost analysis began to be seen as a tool that supported more stringent regulation of the economy.”
Topic
benefit-cost analysis
Dean Shapiro: Another Blow to Regulatory Benefit-Cost Analysis
Stuart Shapiro argues that the Trump Administration’s new OIRA memo accelerates deregulation by sidelining rigorous benefit-cost analysis and elevating presidential preferences over economic evidence. He concludes that formally directing agencies to ignore analysis in key situations may signal the end of a decades-long norm that regulatory decisions should be grounded in objective economic evaluation.