Lori Aratani and Paul Duggan of the Washington Post report on the controversy about which agency should oversee safety of the Washington DC subway system (“Metrorail”).
Category Archives: Benefit-cost Analysis
Immigration is a key policy issue heading toward the 2016 elections. so it is interesting to see how well the candidates apply economic analysis.
Donald Trump’s campaign has published a policy statement.
What Happened to the Precautionary Principle?
Federal officials have abandoned it in the case of Ebola
The Precautionary Principle states that in the absence of scientific certainty, risk managers should err on the side of safety. The Precautionary Principle is routinely practiced by federal agencies when they are not otherwise statutorily constrained, such as by a requirement to balance benefits and costs. Indeed, it is rare when Congress has delegated the choice of risk management framework to an Executive branch agency and that agency has chosen any framework other thanks some variant of the Precautionary Principle.
A rare event is happening before our eyes. In the case of Ebola Virus Disease, federal risk managers are not relying on the Precautionary Principle. Rarer still, they are criticizing governors for relying on it.
The Washington Metropolitan Area Transit Authority (WMATA, or "Metro" to locals) has opened the first 0.8 mile segment of its planned 5-mile "premium transit service" between the Braddock Road Metro station in Alexandria and the Crystal City Metro station in Arlington.
What are the economics of this new service?