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Market Corrective Rulemaking: Drawing On Eu Insights To Rationalize U.S. Regulation, Reeve T. Bull
Market Corrective Rulemaking: Drawing On Eu Insights To Rationalize U.S. Regulation, Reeve T. Bull
Reeve T Bull
When justifying the government’s role in intervening in the free market, economists and legal scholars alike point to the problem of “market failures”: laissez-faire capitalism may not produce optimal outcomes in certain cases, and government interventions can promote overall market efficiency. The existence of such market failures is not terribly controversial; the question of whether government regulators can correctly identify these flaws and devise appropriate solutions, by contrast, is significantly more contentious. Unfortunately, under the existing regulatory framework, government officials are not especially well-positioned to make these difficult determinations. Congress does not, as a general matter, consider the economic costs …
Building A Framework For Governance: Retrospective Review And Rulemaking Petitions, Reeve T. Bull
Building A Framework For Governance: Retrospective Review And Rulemaking Petitions, Reeve T. Bull
Reeve T Bull
Of the various regulatory reform efforts advocated by legal scholars and politicians in recent years, perhaps none holds greater promise than retrospective review of agency regulations, whereby agencies revisit existing rules to determine whether they remain appropriate in light of changed circumstances. The Obama Administration has embraced the principles of retrospective review, issuing three executive orders on the subject, and it has trumpeted billions of dollars in economic savings resulting from those efforts. Nevertheless, numerous scholars have criticized these initiatives, contending that agencies reviewing their own regulations are unlikely to repeal or fundamentally overhaul existing rules. This article addresses the …