Regulating Risks

Robert Pollak

Journal of Economic Literature, 1995, vol. 33, issue 1, 179-191

Abstract: Stephen Breyer's new book, "Breaking the Vicious Circle: Toward Effective Risk Regulation" addresses the widely recognized problems of health, safety, and environmental regulation. Breyer argues that public perceptions, congressional politics, and the technical uncertainties of risk regulation define a "vicious circle" - a situation of "regulatory gridlock." Breyer argues that reforming and depoliticizing the regulatory process - a solution that draws on "the virtues of bureaucracy" - is the best chance for practical reform. The review questions whether quantitative risk assessment, the "scientific" component of risk regulation (as opposed to risk management, the policy component), can be made "scientific" enough to engender the trust required to succeed.

Date: 1995
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