ENVIRONMENTAL REGULATORY REFORM AND THE UNHOLY TRINITY: UNFUNDED MANDATES, RISK ASSESSMENT, AND PROPERTY RIGHTS

Major regulatory reform issues which involve environmental policy include issues of unfunded mandates, risk assessment, and property rights. Each of these proposed reforms involves major changes in environmental policies with impacts on different groups. Property rights is the core issue in Congress and state legislatures, with both regulatory takings and just compensation being the major parameters. Economists can participate effectively in this policy debate with successful research and education programs addressing the divisive issues.