Deinonychus antirrhopus

Good Public Policy?

Federal agencies should promulgate only such regulations as are required by law, or are made necessary by compelling public need, such as material failures of private markets to protect or improve the health and safety of the public, the environment, or the well being of the American people. In deciding whether and how to regulate, agencies should assess all costs and benefits of available regulatory alternatives, including the alternative of not regulating.--Source

The above is an excerpt from the Order on Regulatory Planning and Review. Who came up with this order? President Clinton--or somebody on his staff. At any rate the last part of the order is indeed impressive. If it is cheaper to simply live with the problem than to regulate it, then the best policy is probably to live with it.