What $40 billion will buy you
Posted by Daniel Hall on July 29, 2008
Somewhere between $100 billion and $500 billion in social benefits. Note that something like two-thirds of the cost of federal regulation comes from environmental statues ($25-28 billion) — and that somewhere between two-thirds and nine-tenths of the (much larger) benefits of regulation come from these same environmental rules.
Yes, our government could probably do an even better job of providing efficient regulation. But the next time someone complains to you about the horrible and grinding inefficiencies of gub’mint intervention please point them here.