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Retaking Rationality - How Cost-Benefit Analysis Can Better Protect the Environment and Our Health (Paperback)
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Retaking Rationality - How Cost-Benefit Analysis Can Better Protect the Environment and Our Health (Paperback)
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That America's natural environment has been degraded and despoiled
over the past 25 years is beyond dispute. Nor has there been any
shortage of reasons why-short-sighted politicians, a society built
on over-consumption, and the dramatic weakening of environmental
regulations. In Retaking Rationality, Richard L. Revesz and Michael
A. Livermore argue convincingly that one of the least
understood-and most important-causes of our failure to protect the
environment has been a misguided rejection of reason. The authors
show that environmentalists, labor unions, and other progressive
groups have declined to participate in the key governmental
proceedings concerning the cost-benefit analysis of federal
regulations. As a result of this vacuum, industry groups have
captured cost-benefit analysis and used it to further their
anti-regulatory ends. Beginning in 1981, the federal Office of
Management and Budget and the federal courts have used cost-benefit
analysis extensively to determine which environmental, health, and
safety regulations are approved and which are sent back to the
drawing board. The resulting imbalance in political participation
has profoundly affected the nation's regulatory and legal
landscape. But Revesz and Livermore contend that economic analysis
of regulations is necessary and that it needn't conflict with-and
can in fact support-a more compassionate approach to environmental
policy. Indeed, they show that we cannot give up on rationality if
we truly want to protect our natural environment. Retaking
Rationality makes clear that by embracing and reforming
cost-benefit analysis, and by joining reason and compassion,
progressive groups can help enact strong environmental and public
health regulation.
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