The Cost-Benefit State: The Future of Regulatory Protection

Abstract

Over the past two decades, applying cost benefit analysis (CBA) to new regulations has become accepted practice. Many of the major issues being debated today concern how - not whether - agencies use CBA to carry out their mandates. This timely guide The Cost-Benefit State The Future of Regulatory Protection by Cass R. Sunstein examines new trends in CBA and how courts are responding in contested cases. The book analyzes the legality of actions taken by the EPA, OSHA, CPSC, and other agencies. Highly readable, the guide explores conflicting interests surrounding such complex issues as: * Setting a value on human life and health * The developing law of judicial review of CBA and Risk Assessment * Requiring agencies to take account of costs, to exempt trivial risks, and to consider the substitute risks introduced by regulation * Minimizing the influence of special interest groups * Protecting future generations' interests Updated in light of the September 11 attacks, the book focuses special attention on airport security, bioterrorism, recent regulatory actions of the Bush Administration, and other timely issues. A well-recognized authority on law and regulatory policy, Professor Sunstein uses concrete examples and offers common sense approaches to balancing conflicting interests. He points out the inherent danger of overreacting to low-risk threats and neglecting high-risk threats. Valuable tables are included throughout the text, such as a chart detailing the value of human life set by various federal agencies. The fact-filled appendix features information on costs and benefits for ozone and particulates, two of the most highly publicized air pollutants, and a primer for citizens and lawyers, showing dose-response curves involving the possible effects of cancer-causing substances. Also included are the OMB best practices guidelines, which have had a large influence in the federal government, and which are likely to have a larger effect in the future. Lawyers, economists, political scientists, and policy-makers, as well as members of the general public, will find Professor Sunstein's insights invaluable in following the ongoing debates over the best approach for reducing environmental, health, and safety risks, including the risks posed by terrorism. This important guide will be of particular value to administrative and government lawyers, as well as those in the environmental and health law fields.

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