Editor’s Note: CRE’s analysis of centralized regulatory review in the U.K. may be found here and a comparison of the UK review system with its US counterpart is here. CRE Brazil’s advice to the Brazilian government on centralized regulatory review is available in English and Portuguese. For a discussion of the history of regulatory budget proposals, see here.
It is often said that academics could do a better job speaking to the general public. It can probably also be said that academics could use a dose of looking at the forest as well as the trees. In the area of regulatory management, both appear to be true.
In conducting research for a Council on Foreign Relations (CFR) report assessing the federal regulatory system, I noticed that public discourse often overlooks academic research about regulations’ ambiguous effects on the economy and the relatively low regulatory burden on U.S. businesses compared to business in other advanced economies. But by the same token, the academic community could take a step back from the details to look at the long-term U.S. regulation reform record, which is one of stagnation, and compare it with peer countries, which is now not as favorable as it once was.