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.

Dealing with Losers: The Political Economy of Policy Transitions

Business & Money

Trebilcock, Professor Michael J.

Economics

Oxford University Press

See the best price to sell, buy, or rent books by Trebilcock, Professor Michael J.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Trebilcock, Professor Michael J.

See the best price to sell, buy, or rent books by Trebilcock, Professor Michael J.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Dealing with Losers: The Political Economy of Policy Transitions