The quote emphasizes that when evaluating regulations—whether they are new or existing—the critical question is whether these rules are justified based on a thorough analysis of their costs and benefits. This means that policymakers need to consider both the positive impacts and any negative repercussions before implementing or maintaining regulations.
This statement delves into the complex process of regulatory decision-making, highlighting the importance of rigorous evaluation in governance. It suggests that merely having regulations is not enough; they must be effective and necessary for achieving their intended goals while minimizing adverse effects on society and businesses. This approach underscores a balanced perspective where decision-makers weigh all relevant factors to ensure that regulations are truly beneficial rather than burdensome.
The quote is attributed to Cass Sunstein, an influential legal scholar known for his work in law, behavioral economics, and public policy. He has been instrumental in shaping the way governments around the world assess and implement regulatory measures, emphasizing the need for a pragmatic approach grounded in empirical analysis and economic reasoning.
