Post-Crisis Rules Archives | Economic Equality

By Karen Petrou

Judging U.S. rulemaking by its benefits to the public good, not just by its impact on private wealth, is transformational and, with a new CBA methodology, also more than possible.
Equitable rules can be both effective and efficient.
Maximizing the public good is not synonymous with redistribution or reverse discrimination.

In 1993, President Bill Clinton issued Executive Order (EO) 12866, creating hurdles ahead of federal rules that are “economically significant.” This was measured by a cost of $100 million or more. On January 20, President Biden began a long-overdue rewrite, stipulating that federal rules are henceforth to be judged not just by their impact on private wealth, but also by what becomes of the public good.

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By Karen Shaw Petrou

On November 30, the New York Times ran an op-ed arguing that the Fed could make a big economic-equality difference by becoming, in essence, a giant equity holder on behalf of the nation’s least wealthy. This concept takes Milton Friedman’s idea of “helicopter money” one step farther, creating “helicopter equity” in hopes of improving long-term wealth accumulation instead of the consumption for which Mr. Friedman wanted his dollars dropped from the sky. From a progressive-policy perspective, turning the Fed into a giant, redistributive mutual fund has considerable appeal. Continue reading “Should The Fed Become a “Social Wealth Fund?”” →

Tag: Post-Crisis Rules

Rules We Can Really Live By

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