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Retaking Rationality - How Cost Benefit Analysis Can Better Protect the Environment and Our Health (Hardcover)
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Retaking Rationality - How Cost Benefit Analysis Can Better Protect the Environment and Our Health (Hardcover)
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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 Revesz and Michael 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 environmentaland public
health regulation.
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