Dealing with losers : the political economy of policy transitions / Michael J. Trebilcock.
2014
H97 .T737 2014 (Map It)
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Details
Author
Title
Dealing with losers : the political economy of policy transitions / Michael J. Trebilcock.
Published
New York : Oxford University Press, [2014]
Copyright
©2014
Call Number
H97 .T737 2014
ISBN
9780199370658 (hardback : alk. paper)
0199370656 (hardback : alk. paper)
0199370656 (hardback : alk. paper)
Description
viii, 216 pages ; 24 cm
System Control No.
(OCoLC)859061586
Bibliography, etc. Note
Includes bibliographical references (pages 161-205) and index.
Record Appears in
Table of Contents
Acknowledgments
ix
1.
Introduction: The Places in-Between
1
2.
Framing the Issues: Normative Discourses, Political Imperatives
9
I.
Normative Theories of the Case for and Against Compensation or Mitigation of Transition Costs
9
A.
Efficiency Theories
9
B.
Utilitarianism
13
C.
Social Contract Theories
14
D.
Communitarianism
14
E.
Corrective Justice
15
F.
Libertarianism
16
II.
The Role of Compensation and other Mitigation Transition Strategies in Positive Theories of the Political Process
17
A.
The Economics of Politics: Public Choice Theory
17
B.
The Implications of Public Choice Theory for Transition Policies
18
C.
The Limits of Public Choice Theory
19
III.
Alternative Explanations of Political Behavior
20
A.
Structural Explanations
20
B.
Institutional Explanations
20
C.
Psychological Explanations
22
D.
Ideational Explanations
24
E.
The Implications of Alternative Explanations of Political Behavior for Transition Policies in the Political Process
26
IV.
Conclusion
29
3.
Public Pensions: Reconciling Fiscal Sustainability with Intergenerational Equity
31
I.
Introduction
31
II.
Public Pension Plans and the Sustainability Problem
32
III.
Policy Responses to the Sustainability Problem
33
IV.
Options for Dealing with the Losers
37
V.
Public Choice and Normative Analysis
39
VI.
Conclusion
41
4.
Reforming the US Home Mortgage Interest Deduction
43
I.
Introduction
43
II.
How Does the MID Work?
44
A.
The Election to Itemize
44
B.
The Mechanics of the MID
45
C.
The MID in the Context of Other Tax Treatment of Housing
46
III.
History of the Deductibility of Home Mortgage Interest
46
A.
Origins of the MID
46
B.
The Politics Leading to the Codification of the MID
48
IV.
The Policy Case Against the MID
48
A.
Justifications for Subsidizing Homeownership
49
i.
Positive Externalities from Consuming More or Better Housing
49
ii.
Positive Externalities in Choice of Renting versus Owning a Home
49
B.
Justifications for Not Subsidizing Homeownership---Negative Externalities
50
C.
The MID Is Ineffective in Addressing Externalities
50
D.
The MID Is Inefficient and Inequitable
51
i.
Efficiency Critiques of the MID
51
ii.
Equity Critique of the MID
53
V.
Reform Options
53
A.
Affected Constituencies
54
B.
Current Developments and the Availability of Insurance
55
C.
Classes of Strategies for Reforming the MID
56
i.
Cold Turkey: Cancel the MID Overnight
56
ii.
Replace the MID with a Credit
56
iii.
Grandfathering
57
iv.
Capping the Deductibility of the MID (and Other Itemized Deductions)
57
v.
Phaseouts of the MID Over Time
58
vi.
Raising the Standard Deduction
58
VI.
Conclusion
59
5.
Trade Liberalization: Gradualism, Reciprocity, Reversibility
63
I.
Introduction
63
II.
Measuring Adjustment Costs
64
III.
History of Adjustment Cost Policies
65
IV.
Normative Rationales for and Against Intervention
66
A.
Economic Efficiency
66
B.
Distributive Justice
68
C.
Communitarianism
68
V.
Political Considerations
69
VI.
Policy Instruments
71
A.
Gradualism
72
B.
Reciprocity
73
C.
Reversibility
73
D.
Labor Market Adjustment Policies
75
i.
Passive Policies: The Safety Net
75
ii.
Active Policies: The Trampoline
76
iii.
Trade-Specific Adjustment Programs
78
iv.
Other Policies
79
VII.
Conclusion
80
6.
Agricultural Supply Management: Unraveling the Transitional Gains Trap
81
I.
Introduction
81
II.
Dairy Supply Management in Canada
82
A.
The Structure of Canada's Dairy Supply Management Scheme
82
B.
The Effects of Canada's Dairy Scheme
84
C.
The Politics of Dairy---The Necessity of Compensation
86
i.
Public Choice Theory
86
ii.
Public Sympathy
87
iii.
Political Geography
88
iv.
Transitional Gains Trap
88
III.
Overcoming Challenges to Reform
88
A.
Persuading the Public
89
B.
Policy Options for Compensation and Mitigating Opposition to Reform
90
i.
Minor Reform
90
ii.
Options for Dismantling Supply Management
91
iii.
Options for Compensation and Transition Assistance Policies
92
IV.
Normative Considerations Regarding Compensation and Transition Programs
93
V.
Conclusion
94
7.
Liberalizing Immigration Policy: The Gains and Strains of Accommodating More and Diverse Newcomers
97
I.
Introduction
97
II.
Stylized Facts About Immigration Policies in Receiving Countries
98
III.
Normative Critiques of Prevailing Immigration Policies
99
A.
Economic Perspectives
99
i.
Labor Market Effects in Host Countries
100
ii.
Fiscal Effects in Host Countries
101
iii.
Implications for Existing Immigration Policies
102
B.
Non-economic Perspectives
104
i.
Communitarianism
104
ii.
Liberalism
106
iii.
Implications for Existing Immigration Policies
107
IV.
Rethinking Immigration Policies
107
A.
Independent Applicants
108
B.
Family Preference Immigration
111
C.
Refugees and Asylum Seekers
111
D.
Illegal Immigrants and Temporary Workers
112
V.
Conclusion
114
8.
Climate Change Policy: Managing More Heat in the World's Kitchens
119
I.
Introduction
119
II.
Policy Instruments
120
III.
Ethical Considerations
122
A.
Liability for Past Emissions
122
B.
Justifying Different Emissions Levels
124
IV.
Political Factors
125
A.
Structural
125
B.
Institutional
126
C.
Ideational
128
D.
Psychological
129
V.
Transition Strategies
131
A.
Taxes and Permits
131
B.
Carbon Tariffs and Equity
132
C.
Revenue Neutral Carbon Pricing
132
D.
Grandfathering and Exemptions
133
E.
Price Ceilings, Floors, and Collars
134
F.
Information and Exhortation
134
G.
Framing
135
VI.
Conclusion
135
9.
Institutional Reform and Development: The Perils of Utopianism
139
I.
Introduction
139
II.
Path Dependence Theory
140
III.
Rule of Law Reform and Development
141
IV.
Democratic Reform and Development
143
V.
Property Rights and Development
145
VI.
Conclusion
149
10.
Conclusion: Taking Transition Costs Seriously
151
I.
Introduction
151
II.
The Virtues of Incrementalism and Compromise
153
III.
Lessons from Experience
155
IV.
Conclusion
158
Notes
161
Index
207