The Cost-Benefit State: A Myth or Reality?

The main change to the regulatory system over the last 40 years has been the introduction of cost-benefit analysis into the federal regulatory process. The idea that there's all these technocrats reviewing every regulation making sure that everyone every one of these rules has benefits and excessive cost is not true it's a myth, says James Carville. There's clearly a danger of taking populism too far we don't want to be just at the whim of the mob but on the other hand weDon't want out of touch experts maybe who have their noses in books and don't have much real world experience they're not always having the best track record either he adds.