By Robert W. Crandall
The authors of this primer think that the present method of federal law urgently wishes fix. not just are present bills mandated by means of legislation huge, yet a considerable percentage of these charges is useless. for that reason, extra clever rules may in attaining a similar social pursuits at less expense or extra bold ambitions on the comparable expense. Federal rules has grown dramatically in fresh many years, even if thought of totally, as a relative percentage of the U.S. financial system, or as a relative percentage of the output of the government.
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The authors of this primer think that the present method of federal legislation urgently wishes fix. not just are present bills mandated through law huge, yet a considerable proportion of these bills is useless. hence, extra clever rules may well in achieving an identical social ambitions at less rate or extra bold ambitions on the comparable expense.
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Litan is director of the Economic Studies Program at the Brookings Institution. Formerly, he served as associate director of the Office of Management and Budget, as deputy assistant attorney general in the Antitrust Division of the Department of Justice, and as a regulatory specialist for the President’s Council of Economic Advisers. An economist and an attorney who has practiced law and taught banking law at the Yale Law School, Mr. Litan has authored or coauthored numerous books and articles on financial institutions, international trade, and regulatory issues.
Formerly, he was an associate professor at the University of Vermont and a lecturer and visiting professor at Harvard University. Paul R. Portney is president of Resources for the Future. From 1989 to 1995 he was RFF’s vice president and director of its Center for Risk Management and its Quality of the Environment Division. Before joining RFF, Mr. Portney was chief economist at the Council on Environmental Quality in the Executive Office of the President. He is currently a member of the Environmental Protection Agency’s Science Advisory Board and chairman of the board’s Environmental Economics Advisory Committee.
His most recent publication is Footing the Bill for Superfund Cleanups: Who Pays and How? (Brookings and Resources for the Future, 1995).