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Policy Memo TO: Dr. Bo Liu FROM: Logan Young SUBJECT: Cost-Benefit Analysis of the Clean Air Act DATE: October 25, 2017 The purpose of this memorandum is to review the cost-benefit analysis process and the pros and cons that are involved with the procedures, within the Clean Air Act. The cost-benefit analysis and how it is utilized to make regulatory decisions will be covered, as well as the results of the Clean Air Act cost-benefit analysis. The EPA conducted the research, so this will talk about the steps the EPA took to analyze it. Lastly, this memo will tell you if there are any areas of the analysis that could be overestimated or underestimated. What is a cost-benefit analysis? A cost-benefit analysis is “whenever people decide whether the advantages of a particular action are likely to outweigh its drawbacks” (Benefit-Cost Analysis, n.d.). The analysis estimates the economic value placed upon a …show more content…
Clean Air Act cost-benefit analysis results Was the analysis overestimated or underestimated? References Benefit-Cost Analysis. (n.d.). Retrieved October 25, 2017, from http://www.econlib.org/library/Enc/BenefitCostAnalysis.html Cost-Benefit Analysis: Deciding, Quantitatively, Whether to go Ahead. (n.d.). Retrieved October 26, 2017, from https://www.mindtools.com/pages/article/newTED_08.htm Cowen, T. (n.d.). Using Cost-Benefit Analysis to Review Regulation. Retrieved from https://www.gmu.edu/centers/publicchoice/faculty%20pages/Tyler/Cowen%20on%20cost%20benefit.pdf Lockwood, A. H. (2012, September 07). How the Clean Air Act Has Saved $22 Trillion in Health-Care Costs. Retrieved October 25, 2017, from http://www.theatlantic.com/health/archive/2012/09/how-the-clean-air-act-has-saved-22-trillion-in-health-care-costs/262071/ Review, T. R. (2017, September 01). A Debate Over the Use of Cost-Benefit Analysis. Retrieved October 25, 2017, from
Most American citizens, if asked, would say that sex trafficking is an issue that happens on foreign land, not here in America. Many American’s believe that slavery was abolished years ago, but modern day slavery is happening in this country and internationally every day right under our noses. The startling fact, is that sex trafficking happens within our borders, and in our very own towns at a much higher rate than anyone would imagine. Sex trafficking occurs when people, usually women and children, are coerced into the sex trade against their will (TVPA, 2013). Many traffickers target weak, vulnerable people who come from low socioeconomic backgrounds and have a history of abuse; however anyone can potentially be trafficked (The Polaris Project, 2014). Many traffickers lure their prey in with false promises of love, money, or security, and then the victims are instead faced with lies, debt bondage, violence, physical and mental manipulation, and abuse (The Polaris Project, 2014). In today’s world many of our social issues, such as human trafficking, are made worse by the general lack of education, resources, and information available to the public and to victims. I propose a policy that will help 180 Turning Lives Around provide comprehensive and much needed services to victims of sex trafficking, as well as educate the community and law enforcement officials in order to help end modern day slavery in America.
Economic Benefit Attributed to Opening a Preoperative Evaluation Clinic for Outpatients, 83,407-10. Retrieved on November 8th, 2006 from
Shedd, M. S., Wilman, E. A., & Burch, R. D. (1990). An Economic Analysis of
"The Pros and Cons of ObamaCare." UPMC. N.p., 6 Nov 2013. Web. 14 Apr 2014.
The amount of money that is spent on healthcare is a quite a bit of money but about 10% of all the money is a result of some sort of medical fraud or abuse. This is about 120 billion dollars. With HIPAA (Health Insurance Portability and Accountability Act) medical fraud and abuse can be tracked easier. HIPAA was enacted in august of 1996; this was to help improve the portability and continuity of the health insurance.
The quality of air we intake on a daily basis is essential to our health, therefore, the EPA’s Clean Air Act provides the groundwork to support the quality of the air which we breathe. One of the goals of the Act was to set and achieve NAAQS in every state by 1975 to address the public health and welfare risks posed by certain air pollutants. The setting of these pollutant standards was coupled with directing the states to develop state implementation plans (SIPs), applicable to appropriate industrial sources in the stat...
There are several basic approaches that can be utilized when conducting economic evaluations for any new health care intervention; which can include medications that are designed for the treatment and prevention of disease and how to relate the effectiveness with the overall monetary value of the new treatment. The economic tools that can be employed to perform such an analysis can be broken down into four basic parts that consist of cost-minimization analysis (CMA), cost-effectiveness analysis (CEA), cost-benefit analysis (CBA) and cost-utility analysis (CUA). These four categories will contain the major financial analytical techniques employed when evaluating medical treatments and interventions along with other types termed cost-consequence
West, S. L., & O'Neal, K. K. (2004). Project D.A.R.E. outcome effectiveness revisited. American Journal of Public Health. doi:10.2105/AJPH.94.6.1027
benefits. When we make a decision we weigh up the costs and benefits and choose
In May of 1950 the first United States Technical Conference on Air Pollution was established, but it wasn’t until July 14, 1955 that Congress passed the first piece of legislation, the Air Pollution Control Act of 1955 (P.L. 84-159) signed by President Eisenhower. This first piece of legislation addressed pollution at its source and provided “research and technical assistance relating to air pollution control” (P.L. 159). It also assigned $5 million on annual funds for federal research on air pollution for the next five years. These funds had to be shared with states and educational institutions to assist in their own research on air pollution; by 1956, only $2 million of the approved $5 million were appropriated for research and technical assistance. The most influx of money was received in 1958 when Congress appropriated $4 million (Reitze).
Varkey, P., Murad, M. H., Braun, C., Grall, K. J., & Saoji, V. (2010, July 3). A review of cost-effectiveness, cost-containment and economics curricula in graduate medical education. Journal of Evaluation in Clinical Practice, 16(6), 1055-1062. doi:10.1111/j.1365-2753.2009.01249.x
Marginal cost (benefit) is the change in total cost (benefit) caused by an incremental change in the level of activity (Thomas & Maurice, 2012, pp. 95). In these definitions incremental is referring to small change relative to the total level of activity. Marginal cost is representative of the slope of the total cost curve and marginal benefit is the slope of the total benefit curve. The intersection of these two lines on a graph represent the point where the net benefit is maximized, or the optimal level of
"Human Life Value - Financial Calculators from Dinkytown.net." Financial Calculators. Web. 06 Feb. 2011. .
Business organizations usually make many regular decisions during their activity, but when an organization wants to make a specific operational decision, it requires distinguishing the appropriate cost elements to a particular management decision. One of the practical tools in the decision-making process is to compare the costs of a particular alternative with that of other alternatives, which is known as the differential analysis.
The Clean Air Act has been positive legislation as it has guarded the health of families as well as made breathing much easier by reducing the amount of harmful pollutants from the air. With this Act Americans have had more time to enjoy the outdoors and not become bogged down because of illness. With this Act, no longer do you see cars blowing out dark smoke from their exhaust pipes or a city skyline with a black haze around it. With the implementation of the Clean Air Act and its amendments, there have been a reduction in the amounts of premature death; people are living longer healthier lives, children are not missing school reducing the need to make a visit to the doctor’s office incurring a medical expense. In 2010, a study was completed by the EPA and found the amounts