Cost-benefit analysis is a useful tool in constructing public policy. But some even more fundamental points need to be kept in mind.

The Mississippi Center for Public Policy has started an educational campaign that talks about this idea. The campaign is called Governing by Principle. The Center hopes to advance ten principles by which policy can be understood. Here's the first one: "Government exists to protect rights, not to create them."

They're off to a good start. Read the rest.