Word: cost-benefit
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After the case was argued before the Supreme Court this year, the textile manufacturers acquired a potent ally in President Reagan. In February, as part of his drive to deregulate U.S. industry, Reagan ordered a cost-benefit analysis of major Government rules. A month later his Secretary of Labor asked the Supreme Court not to decide the cotton-dust case because OSHA planned to reconsider the disputed standards...
Some observers had expected the court to rule more favorably on cotton dust because of its decision last year striking down a limit on benzene vapors in factories. In that case, however, the court never reached the cost-benefit question, in part because four Justices concluded that OSHA had failed to show that the proposed standard was even necessary to assure worker health...
...regulation. Over the years, OSHA has issued thousands of health-and safety-related rules, right down to specifying the design of stepladders and the location of fire extinguishers in factories. Under Reagan Appointee Thorne G. Auchter, 36, a Florida construction executive, OSHA is changing direction. Auchter promises to stress cost-benefit analysis as the means of achieving the Government's goal at the lowest cost to companies. Says he: "We don't want to end all regulation, but we want to end excessive, unnecessary, unfounded regulation...
...week after his Inauguraton, the President issued an Executive Order freezing, for 60 days, all the so-called midnight regulations that had been passed in the final days of the Carter Administration. Two weeks later, another Executive Order required that the 150 major Executive Branch agencies of Government undertake cost-benefit analyses before proposing enactment of significant new rules...
THERE ARE SEVERAL reasons for Bok to endorse the Gomes Committee proposal vocally and wholeheartedly. Following his administration's characteristic cost-benefit approach, it would seem that the benefits far outweight the meager costs associated with the establishment of this halfway measure. He should recognize that since Harvard boasts the highest reputation of any school in the country, every University president has a vested interest in maintaining that prestige, in preserving the status quo. Bok has succeeded admirably in avoiding risk and minimizing conflict, but he has arrived at a critical moment. If the carefully constructed equilibrium at Harvard...