While new environmental regulations might hurt select businesses in the short term, they improve the overall economy in the long run, says Steven Cohen. He’s a political scientist who studies issues involving the environment and the economy at Columbia University’s Earth Institute in New York City. New standards hardly ever go into effect right away in order to give companies time to change their technology and procedures. “Even if you lose one factory because of new requirements, many more will be built because regulations very often force industry to innovate and modernize,” says Cohen. “Economists have found that regulation often forces technological innovation, which then leads to economic growth.”
Cohen and other experts agree that the EPA also pays for itself by improving Americans’ health. This saves billions of dollars in health-care costs and reduces lost hours of productivity due to illness. “For every dollar we spend on regulating air pollution, we get about $15 back in benefits,” says Cohen.
Scientists fear that curtailing the EPA’s role will lead to the return of widespread pollution in the U.S. “If you want to see what it’s like without the EPA, go to places like Beijing, China, or New Delhi, India,” where they are just starting to impose environmental regulations, David Lodge of Cornell University says. “That’s what our country was on its way to becoming before we did something to change its direction.”