The Keys to Regulatory Excellence

What constitutes excellence for regulators? According to one legal scholar, excellence requires that regulators do what President Theodore Roosevelt advised: keep “their eyes on the stars” and “their feet on the ground.” In her chapter in the new book Achieving Regulatory Excellence, Wendy Wagner, a professor at the University of Texas at Austin School of Law, argues that the best regulators possess three key qualities: “an unwavering commitment” to advancing the public interest at every stage of the regulatory process; dedication to seeking input from all parties affected by regulatory decisions; and an ability to navigate a “morass of regulatory procedures and requirements.” To assess whether specific regulators achieve these qualities, policymakers and the public should use process-based measures rather than output-based measures, Wagner suggests. She criticizes traditional output measures—which use a particular result to…

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