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Dealing With Losers: The Political Economy Of Policy Transitions

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.

Paperback: 240 pages

Publisher: Oxford University Press; 1 edition (September 1, 2015)

Language: English

ISBN-10: 0190456949

ISBN-13: 978-0190456948

Product Dimensions: 9.2 x 0.5 x 6.2 inches

Shipping Weight: 12.6 ounces (View shipping rates and policies)

Average Customer Review: 5.0 out of 5 stars  See all reviews (1 customer review)

Best Sellers Rank: #2,069,968 in Books (See Top 100 in Books) #215 in Books > Law > Administrative Law > Public #12986 in Books > Textbooks > Business & Finance > Economics #17001 in Books > Textbooks > Law

Very thoughtful.Reviews normative theories of government relief. (from Kaplow to Epstein), descriptive theories of the political economy (including Mankur Olson), and proceeds with about ten detailed case studies of big reform where government relief played a key role. Did you know that UK spend about 40% of their GDP to compensate owners of slaves when they abolished slavery?

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