Comment by schiffern
>calculate only the cost to industry
Industry is perfectly capable of calculating its own costs, and advocating for its own motivated self-interest, thank you very much. This is not a bug we need to fix.
The purpose of agencies like the EPA is to "see the [Pareto optimal] forest for the trees" and counterbalance industry's [Nash equilibrium] profit motive.
Otherwise let's just rename it the Shareholder Protection Agency, because that's all it would be.
Well, they very successfully advocated for their interests, and now the administration they helped install handed the EPA over to them. Maybe they should rename the EPA to Environment Destruction Agency, same as they renamed the Department of Defense to Department of War...