The Prospects for Regulatory Reform: The Legacy of Reagan's First Term

Abstract

Four years ago, when the Reagan Administration was about to embark on its first term in office, it announced that "regulatory relief" would be a cornerstone of its economic program. The Administration spoke of eliminating hundreds of obsolete and inefficient regulations, revising major regulatory statutes like the Clean Air Act, and even abolishing several regulatory agencies. As Reagan's second term begins, regulatory issues are no longer so prominent. The words "regulatory relief" are no longer heard. Indeed, the only politically realistic prospects for statutory change involve strengthening, not weakening, major social regulatory statutes. And the only regulatory agency abolished has been the Civil Aeronautics Board, a victim of legislation passed during the Carter presidency.