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Market Failure?

bruegel_babel2_grt.jpg Here’s an interesting directive from the White House:
The order requires federal officials to show that private companies, people or institutions failed to address a problem before agencies can write regulations to tackle it. It also gives political appointees greater authority over how the regulations are written.

House Balks at Bush Order for New Powers, By Jim Abrams, The Associated Press Tuesday, July 3, 2007; 8:16 PM

How does this work?

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