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Vol 21 No 10 Oct/Nov 2016

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Dealing with Losers: The Political Economy of Policy Transitions

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ISBN13: 9780190456948
Published: October 2015
Publisher: Oxford University Press USA
Country of Publication: USA
Format: Paperback
Price: £16.99



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Whenever governments change policies-tax, expenditure, or regulatory policies, among others-there will typically be losers: people or groups who relied upon and invested in physical, financial, or human capital predicated on, or even deliberately induced by the pre-reform set of policies. The issue of whether and when to mitigate the costs associated with policy changes, either through explicit government compensation, grandfathering, phased or postponed implementation, is ubiquitous across the policy landscape. Much of the existing literature covers government takings, yet compensation for expropriation comprises merely a tiny part of the universe of such strategies. Dealing with Losers: The Political Economy of Policy Transitions explores both normative and political rationales for transition cost mitigation strategies and explains which strategies might create an aggregate, overall enhancement in societal welfare beyond mere compensation. Professor Michael J. Trebilcock highlights the political rationales for mitigating such costs and the ability of potential losers to mobilize and obstruct socially beneficial changes in the absence of well-crafted transition cost mitigation strategies. This book explores the political economy of transition cost mitigation strategies in a wide variety of policy contexts including public pensions, U.S. home mortgage interest deductions, immigration, trade liberalization, agricultural supply management, and climate change, providing tested examples and realistic strategies for genuine policy reform.

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Subjects:
Other Jurisdictions , USA
Contents:
ACKNOWLEDGMENTS
CHAPTER 1: INTRODUCTION: THE PLACES IN-BETWEEN
CHAPTER 2. FRAMING THE ISSUES: NORMATIVE DISCOURSES
POLITICAL IMPERATIVES
CHAPTER 3. PUBLIC PENSIONS: RECONCILING FISCAL SUSTAINABILITY WITH INTERGENERATIONAL EQUITY
CHAPTER 4. REFORMING THE U.S. HOME MORTGAGE INTEREST DEDUCTION
CHAPTER 5. TRADE LIBERALIZATION: GRADUALISM, RECIPROCITY, REVERSIBILITY
CHAPTER 6. AGRICULTURAL SUPPLY MANAGEMENT: UNRAVELLING THE TRANSITIONAL GAINS TRAP
CHAPTER 7. LIBERALIZING IMMIGRATION POLICY: THE GAINS AND STRAINS OF ACCOMMODATING MORE AND DIVERSE NEWCOMERS
CHAPTER 8. CLIMATE CHANGE POLICY: MANAGING MORE HEAT IN THE WORLD'S KITCHENS
CHAPTER 9. INSTITUTIONAL REFORM AND DEVELOPMENTS: THE PERILS OF UTOPIANISM
CHAPTER 10. CONCLUSION: TAKING TRANSITION COSTS SERIOUSLY
NOTES
INDEX