Should regulatory review be handled by the private sector?

Obama called for at least one thing that I believe we all can agree on regardless of where we are on the political spectrum – a cost-benefit analysis of our entire regulatory system. He’s issued an executive order force on the issue.

That’s great and all, but there should be real concern about the administration the task force may be created under, and certainly about what type it is and how it is composed regardless.

The government is, in all honesty, perhaps the worst entity to create this. Tied with it would be to hand it to the corporate world. I believe that the private sector is the best way to make this happen, composed and funded partially with members of the government (the government should have some hand in making sure it isn’t dominated by large business interests). Private funding for research should be the push behind it.

What do people think about this movement, and is the private sector the proper arena for its development?