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Dealing with Losers
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Dealing with Losers: The Political Economy of Policy Transitions

Michael J. Trebilcock

Abstract

Whenever government change policies – whether tax, expenditures, or regulatory policies – even when the changes are on net socially beneficial - there will typically be losers. These losers will have made investments of one kind or another, physical, financial, or human, predicated on, or even deliberately by, the pre-reform set of policies. Very few policy changes make everybody better off, but rather reallocate social benefits and costs in different ways. The issue of whether and when to mitigate the costs associated with policy changes, whether through explicit government compensation, gran ... More

Keywords: Transitions, expropriation, grandfathering, postponed implementation, graduated implementation, political economy

Bibliographic Information

Print publication date: 2014 Print ISBN-13: 9780199370658
Published to Oxford Scholarship Online: April 2014 DOI:10.1093/acprof:oso/9780199370658.001.0001

Authors

Affiliations are at time of print publication.

Michael J. Trebilcock, author
University of Toronto School of Law