Product Safety Procedures Need More Cost-Benefit Analysis, CPSC Commissioner Says

To Nancy Nord, one of five federal commissioners charged with protecting Americans from dangerous products, there truly is safety in numbers.

The kinds of numbers that Nord is talking about are statistics that balance risks and benefits and can show that she and her colleagues on the Consumer Product Safety Commission are using tax dollars in the most efficient manner.

In St. Louis this week to talk to graduates of a Saint Louis University program on product safety management, Nord said that such analysis is not always performed, and when it isn't, consumers don't get all they should for their money.