Book Review of Achieving Regulatory Excellence

Abstract

Book review of Achieving Regulatory Excellence (Cary Coglianese, ed., Brookings Institution Press, 2017). The review criticizes the authors, particularly the chapter by John Braithwaite, for not considering the concept of "opportunity cost," namely the idea that regulators who are doing one thing with their time and resources are not devoting them to something else that they might be doing instead. It also criticizes the diffuse chapters for eschewing quantitative measures of regulatory success, and for failing to consider the alternative measure of regulatory success as achieving the goals set by the legislature at a minimum of social cost, as suggested by Peter Schuck and others.

Keywords: Regulation

JEL Classification: Y3