Dealing with losers : the political economy of policy transitions / Michael J. Trebilcock.

Includes bibliographical references and index.

Introduction: the places in-between -- Framing the issues: normative discourses, political imperatives -- Public pensions: reconciling fiscal sustainability with intergenerational equity -- Reforming the US home mortgage interest deduction -- Trade liberalization: gradualism, reciprocity, reversibility -- Agricultural supply management: unraveling the transitional gains trap -- Liberalizing immigration policy: the gains and strains of accommodating more and diverse newcomers -- Climate change policy: managing more heat in the world's kitchens -- Institutional reform and development: the perils of utopianism -- Conclusion: taking transition costs seriously.

"Whenever governments change policies - in tax, expenditure, or regulatory policies - there will typically be losers: people or groups who relied upon and invested in physical, financial, or human capital that was made possible, or even deliberately induced, by the preform set of policies. The issue of whether and when to mitigate the costs associated with policy changes, either through explicit government compensation, phased or postponed implementation, or grandfathering, 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 the Losers: The Political Economy of Policy Transitions explores both the normative and political rationales for transition cost mitigation strategies in a wide variety of contexts and explains which strategies might create an aggregate, overall enhancement in societal welfare. Professor Michael J. Trebilcock highlights the ability of potential losers to mobilize and obstruct socially beneficial changes in the absence of well-crafted transition cost mitigation strategies. By exploring the political economy of transition cost mitigation strategies in a wide variety of policy contexts, including public pension, U.S. home mortgage interest deductions, immigration, trade liberalization, agricultural supply management, and climate change, Professor Trebilcock suggest transition cost mitigation strategies that enhance the likelihood of generally beneficial reforms."--Provided by the publisher.