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A plea for simplicity

Democrats pay lip service to the need to slim the rulebook—Mr Obama’s regulations tsar is supposed to ensure that new rules are cost-effective. But the administration has a bias towards overstating benefits and underestimating costs (see article). Republicans bluster that they will repeal Obamacare and Dodd-Frank and abolish whole government agencies, but give only a sketchy idea of what should replace them.
America needs a smarter approach to regulation. First, all important rules should be subjected to cost-benefit analysis by an independent watchdog. The results should be made public before the rule is enacted. All big regulations should also come with sunset clauses, so that they expire after, say, ten years unless Congress explicitly re-authorises them.
More important, rules need to be much simpler. When regulators try to write an all-purpose instruction manual, the truly important dos and don’ts are lost in an ocean of verbiage. Far better to lay down broad goals and prescribe only what is strictly necessary to achieve them. Legislators should pass simple rules, and leave regulators to enforce them.
Would this hand too much power to unelected bureaucrats? Not if they are made more accountable. Unreasonable judgments should be subject to swift appeal. Regulators who make bad decisions should be easily sackable. None of this will resolve the inevitable difficulties of regulating a complex modern society. But it would mitigate a real danger: that regulation may crush the life out of America’s economy.

A. 어휘
Democrats 민주당원(의원). ensure 보증하다.
cost-effective 비용대비 효과적. bias 傾斜(경사), 편애.
overstating 과장하다. underestimating 과소평가하다.
Republicans 공화당원(의원). bluster 위협하다, 거세게 몰아치다.
repeal 폐지하다, 무효로 하다. Obamacare 오바마 대통령의 의료보험 개혁안.
abolish 폐지하다. government agencies 정부기관.
replace 대체하다. be subjected to 복종시키다, 맡기다.
cost-benefit analysis 비용효과 분석. enact 立法化(입법화)하다.
sunset clauses 일몰 조항. expire 滿了(만료)되다, 죽다.
Congress 의회. explicitly 명확하게. re-authorises 재인가하다.
regulator 규정을 만드는 사람. instruction 설명, 지시.
dos and don’ts 해야 할 것과 하지 말아야 할 것.
verbiage 張皇(장황), 多辯(다변), 饒舌(요설). prescribe 規定(규정)하다, 처방하다.
strictly 정확히, 엄격하게. enforce 집행하다.
unelected bureaucrats 非(비) 선출직 관료. accountable 책임을 지다.
Unreasonable judgments 부당한 審判(심판). appeal 抗訴(항소).
sackable 면직시키다. inevitable 불가피한. mitigate 완화시키다, 가라앉히다.
crush 부수다.