Question

The public choice model raises important questions about the effect of government regulation on economic efficiency. Can we conclude that the Congress should abolish agencies such as the Food and Drug Administration (FDA), the Environmental Protection Agency (EPA), and the Federal Trade Commission (FTC)?

What are the pros and cons of abolishing these agencies?

Answer 1

The FDA issue regulations and guidance documents as part of law enforcement.

In the legislative branch, Congress makes laws. Then there is the Executive Branch, which is the President and federal agencies such as the FDA. Congress implement the laws.

Congress passed additional laws that give the agency more authority to control anti-competitive practices. Congress should not abolish Federal Trade Commission agency

The president cannot abolish the EPA without approval.The EPA, the agency conducts environmental assessments, research and education.

Having national EPA standards is vitally important. Without federal standards, federal compliance, and federal support for scientific research, pollution would be out of control. We must give EPA the support it needs to keep our air, water and climate clean and healthy.

Environmental laws protect the health and safety of people and the environment. For example, the Clean Air Act limits pollutant emissions and the Marine Protection, Research and Sanctuaries Act prohibits dumping of waste into US ocean waters without authorization

Environmental regulation in the United States is accused of causing a wide range of undesirable economic consequences. Environmental regulation is said to be too expensive, slows economic growth, undermines international competitiveness and causes layoffs and plant closures.

The objective of the FTC has to enact the provisions of the Federal Trade Commission Act, which prohibits unfair or deceptive acts or practices in trade. The Clayton Antitrust Act granted the FTC the authority to act against unfair specific and monopolistic practices.

The FTC is an independent federal government agency responsible for providing consumer protection and ensuring that business practices remain fair. The FTC deals with complaints that arise about unfair business practices such as fraud, misleading advertising and monopolistic practices.