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Reviving Rationality - Saving Cost-Benefit Analysis for the Sake of the Environment and Our Health (Hardcover)
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Reviving Rationality - Saving Cost-Benefit Analysis for the Sake of the Environment and Our Health (Hardcover)
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For decades, administrations of both political parties have used
cost-benefit analysis to evaluate and improve federal policy in a
variety of areas, including health and the environment. Today, this
model is under grave threat. In Reviving Rationality, Michael
Livermore and Richard Revesz explain how Donald Trump has
destabilized the decades-long bipartisan consensus that federal
agencies must base their decisions on evidence, expertise, and
analysis. Administrative agencies are charged by law with
protecting values like stable financial markets and clean air.
Their decisions often have profound consequences, affecting
everything from the safety of workplaces to access to the dream of
home ownership. Under the Trump administration, agencies have been
hampered in their ability to advance these missions by the
conflicting ideological whims of a changing cast of political
appointees and overwhelming pressure from well-connected interest
groups. Inconvenient evidence has been ignored, experts have been
sidelined, and analysis has been used to obscure facts, rather than
inform the public. The results are grim: incoherent policy, social
division, defeats in court, a demoralized federal workforce, and a
loss of faith in government's ability to respond to pressing
problems. This experiment in abandoning the norms of good
governance has been a disaster. Reviving Rationality explains how
and why our government has abandoned rationality in recent years,
and why it is so important for future administrations to restore
rigorous cost-benefit analysis if we are to return to a
policymaking approach that effectively tackles the most pressing
problems of our era.
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