A SCHOLARLY BOOK REPOSITORY34 start with P start with P
The company is under-performing, its share price is trailing, and the CEO gets...a multi-million-dollar raise. This story is familiar, for good reason: as this book clearly demonstrates, structural flaws in corporate governance have produced widespread distortions in executive pay. Pay without Performance presents a disconcerting portrait of managers' influence over their own pay--and of a governance system that must fundamentally change if firms are to be managed in the interest of shareholders.
Lucian Bebchuk and Jesse Fried demonstrate that corporate boards have persistently failed to negotiate at arm's length with the executives they are meant to oversee. They give a richly detailed account of how pay practices--from option plans to retirement benefits--have decoupled compensation from performance and have camouflaged both the amount and performance-insensitivity of pay. Executives' unwonted influence over their compensation has hurt shareholders by increasing pay levels and, even more importantly, by leading to practices that dilute and distort managers' incentives.
This book identifies basic problems with our current reliance on boards as guardians of shareholder interests. And the solution, the authors argue, is not merely to make these boards more independent of executives as recent reforms attempt to do. Rather, boards should also be made more dependent on shareholders by eliminating the arrangements that entrench directors and insulate them from their shareholders. A powerful critique of executive compensation and corporate governance, Pay without Performance points the way to restoring corporate integrity and improving corporate performance.
In 2001, Prime Minister Koizumi Jun’ichirō launched a crusade to privatize Japan’s postal services. The plan was hailed as a necessary structural reform, but many bemoaned the loss of traditional institutions and the conservative values they represented. Few expected the plan to succeed, given the staunch opposition of diverse parties, but four years later it appeared that Koizumi had transformed not only the post office but also the very institutional and ideological foundations of Japanese finance and politics. By all accounts, it was one of the most astonishing political achievements in postwar Japanese history.
Patricia L. Maclachlan analyzes the interplay among the institutions, interest groups, and leaders involved in the system’s evolution from the early Meiji period until 2010. Exploring the postal system’s remarkable range of economic, social, and cultural functions and its institutional relationship to the Japanese state, this study shows how the post office came to play a leading role in the country’s political development. It also looks into the future to assess the resilience of Koizumi’s reforms and consider the significance of lingering opposition to the privatization of one of Japan’s most enduring social and political sanctuaries.
Latin America is a profoundly philanthropic region with deeply rooted traditions of solidarity with the less fortunate. Recently, different forms of philanthropy are emerging in the region, often involving community organization and social change.
This volume brings together groundbreaking perspectives on such diverse themes as corporate philanthropy, immigrant networks, and new grant-making and operating foundations with corporate, family, and community origins.
In Plowshares into Swords, David Ekbladh recaptures the power of knowledge and information developed between World War I and World War II by an international society of institutions and individuals committed to liberal international order and given focus by the League of Nations in Geneva. That information and analysis revolutionized critical debates in a world in crisis. In doing so, Ekbladh transforms conventional understandings of the United States’ postwar hegemony, showing that important elements of it were profoundly influenced by ideas that emerged from international exchanges. The League’s work was one part of a larger transnational movement that included the United States and which saw the emergence of concepts like national income, gross domestic product, and other attempts to define and improve the standards of living, as well as new approaches to old questions about the role of government. Forged as tools for peace these ideas were beaten into weapons as World War II threatened. Ekbladh recounts how, though the US had never been a member of the organization, vital parts of the League were rescued after the fall of France in 1940 and given asylum at the Institute for Advanced Study in Princeton. However, this presence in the US is just one reason its already well-regarded economic analyses and example were readily mobilized by influential American and international figures for an Allied “war of ideas,” plans for a postwar world, and even blueprints for the new United Nations. How did this body of information become so valuable? As Ekbladh makes clear, the answer is that information and analysis themselves became crucial currencies in global affairs: to sustain a modern, liberal global order, a steady stream of information about economics, politics, and society was, and remains, indispensable.
This is an Auto-narrated audiobook version of this book.
An in-depth look at how the ideas formulated by the interwar League of Nations shaped American thinking on the modern global order.
In Plowshares into Swords, David Ekbladh recaptures the power of knowledge and information developed between World War I and World War II by an international society of institutions and individuals committed to liberal international order and given focus by the League of Nations in Geneva. That information and analysis revolutionized critical debates in a world in crisis. In doing so, Ekbladh transforms conventional understandings of the United States’ postwar hegemony, showing that important elements of it were profoundly influenced by ideas that emerged from international exchanges. The League’s work was one part of a larger transnational movement that included the United States and which saw the emergence of concepts like national income, gross domestic product, and other attempts to define and improve the standards of living, as well as new approaches to old questions about the role of government. Forged as tools for peace these ideas were beaten into weapons as World War II threatened. Ekbladh recounts how, though the US had never been a member of the organization, vital parts of the League were rescued after the fall of France in 1940 and given asylum at the Institute for Advanced Study in Princeton. However, this presence in the US is just one reason its already well-regarded economic analyses and example were readily mobilized by influential American and international figures for an Allied “war of ideas,” plans for a postwar world, and even blueprints for the new United Nations. How did this body of information become so valuable? As Ekbladh makes clear, the answer is that information and analysis themselves became crucial currencies in global affairs: to sustain a modern, liberal global order, a steady stream of information about economics, politics, and society was, and remains, indispensable.
Poland was central to the historic changes that took place across Eastern Europe at the end of the Cold War. It is the largest economy in the region, and was at the forefront of opposition to communism, with the rise of Solidarity in the 1980s. This book explores the way that neoliberal policies have formed the basis of transformation, championed by both post-communist and post-Solidarity governments.
Jane Hardy provides a rigorous assessment of the impact of these policies on everyday lives and Poland's place in the European and global economy. These are firmly set in the context of the complex and dynamic political economy of the country. The role of capital in the form of transnational corporations and foreign direct investment is central to the analysis. The revival of trade unions and growth of new social movements are explored as they challenge Poland's new capitalism.
No other book studies Poland's recent history in such depth. This book will be a key text for students of political economy, international relations, social movements and labour studies.
A political history of the rise and fall of American debt relief.
Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country’s periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections.
The Political Development of American Debt Relief traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy.
Any student, academic or practitioner wanting to succeed in development studies, radical or mainstream, must understand the World Bank's role and the evolution of its thinking and activities. The Political Economy of Development provides tools for gaining this understanding and applies them across a range of topics.
The research, practice and scholarship of development are always set against the backdrop of the World Bank, whose formidable presence shapes both development practice and thinking. This book brings together academics that specialise in different subject areas of development and reviews their findings in the context of the World Bank as knowledge bank, policy-maker and financial institution. The volume offers a compelling contribution to our understanding of development studies and of development itself.
The Political Economy of Development is an invaluable critical resource for students, policy-makers and activists in development studies.
Although the analysis focuses on Hungary, whose long history of market reforms makes it an ideal vehicle for assessing the impact of institutional change on reform policy, the author shows how his findings call into question the use of "shock therapy" and arguments, based on the experience in East Asia, that economic development and democratization are incompatible.
This book will appeal to economists, political scientists, and others interested in transition problems in formerly communist countries, democratic transitions, and the politics of stabilization and adjustment.
David L. Bartlett is Assistant Professor of Political Science, Vanderbilt University.
More than mere touts for the interests of Washington insiders, these groups encourage Congress to enact policies that are likely to succeed while avoiding those that have too great of a risk of failure. The surprising result is greater legislative efficiency. The Political Economy of Expertise illustrates that this system actually favors effective and informed decision making, thereby increasing the likelihood that new policies will benefit the American public.
The Israeli occupation of the Palestinian territories since 1967 has many important economic aspects that are often overlooked. In this highly original book, Shir Hever shows that understanding the economic dimensions of the occupation is crucial to unravelling the Israeli-Palestinian conflict.
Hever rejects the premise that Israel keeps control over Palestinian territories for material gain, and also the premise that Israel is merely defending itself from Palestinian aggression. Instead, he argues that the occupation has reached an impasse, with the Palestinian resistance making exploitation of the Palestinians by Israeli business interests difficult, but the Israeli authorities reluctant to give up control.
With traditional economic analysis failing to explain this turn of events, this book will be invaluable for students, activists and journalists struggling to make sense of the complex issues surrounding Israel's occupation.
The historic and increasing interdependence of the Latin American and U.S. economies makes an understanding of the political economies of Latin American nations particularly timely and important. After World War II, many nations initially implemented import substituting industrialization policies. Their outcomes, and the shift in policies, are related to the domestic policies and world economic conditions that led to government deficits, inflation, foreign borrowing, debt renegotiation, and renewed emphasis on common markets and other devices to stimulate trade and investment.
In The Political Economy of Latin America in the Postwar Period, important policy measures are evaluated, such as indexation of prices and contracts; special provisions for financing the government through the Central Bank; stabilization; and deregulation of the economy.
The introduction presents trends in Latin American growth and the factors that influence them. This is followed by parallel studies of the economic development of Argentina, Brazil, Chile, Cuba, Ecuador, Mexico, and Peru from 1945 to the mid-1990s. Noted experts bring their considerable experience to analyzing the content and impact of the economic theories that guided policymaking and their effects on output, income, and quality of life.
Jude L. Fernando explores the paradoxical relationship between NGOs and capitalism, showing that supposedly progressive organisations often promote essentially the same policies and ideas as existing governments.
The book examines how a diverse group of NGOs have shaped state formation in Bangladesh and Sri Lanka. It argues that, rather than influencing state formation for the better, NGOs have been integrated into the capitalist system and their language adopted to give traditional exploitative social relations a transformative appearance.
This enlightening study will give pause to those who see NGOs as drivers of true social change and will encourage students of development studies to make a deeper analysis of state formation.
Taiwan is a classic case of export-led industrialization. But unlike South Korea and Japan, where large firms have been the major exporters, before the late 1980s Taiwan's successful exporters were overwhelmingly small- and medium-sized enterprises (SMEs). The SMEs became the engine of the entire economy, yet for many years the state virtually ignored the SMEs and their role as exporters.
What factors account for the success of the SMEs and their benign neglect by the state? The key was a strict division of labor: state and large private enterprises jointly monopolized the domestic market. This gave the SMEs a free run in export markets. How did this industrial structure come into being? The author argues that it was an unintended consequence of the state's policy toward the private sector and its political strategies for managing societal forces. Indeed, Taiwan's unique industrial structure was shaped by both the witting and the unwitting interactions of the state and the private sector. Moreover, as the author shows, this industrial policy was a product of the internal politics of the economic bureaucracy, and the formulation and implementation of economic policy hinged on mechanisms for solving differences within the state.
Skålnes explains changes in foreign economic policy in terms of shifting strategic assessments regarding the importance of military support from allies. When states need military support from their allies to meet threats to their security, they will adopt discriminatory foreign economic policies in an attempt to strengthen alliance relations. When states can go it alone without military support, by contrast, they will not pursue foreign economic policies that discriminate in favor of either allies or other countries. Discriminatory policies, Skalnes argues, are important strategic instruments for several reasons. First, they can be used to tie countries to a military alliance. Second, they are useful as signals of intention. Third, discriminatory policies may strengthen an ally militarily by increasing the economic resources available for military purposes.
Skålnes provides detailed accounts of the grand strategies of Germany (1879-1914), France (1887-1914), Great Britain (1919-1939), and the United States (1945-1967).
Politics, Markets, and Grand Strategy will be important reading for scholars and students in the fields of national security studies, international political economy, and economic history, and to economists working on problems associated with foreign investment and trade generally and customs union theory and discriminatory trade agreements specifically.
Lars S. Skålnes is Associate Professor of Political Science, University of Oregon.
In The Politics of Free Markets, a comparative-historical analysis of the development of neoliberal policies in these four countries,Monica Prasad argues that neoliberalism was made possible in the United States and Britain not because the Left in these countries was too weak, but because it was in some respects too strong. At the time of the oil crisis in the 1970s, American and British tax policies were more punitive to business and the wealthy than the tax policies of France and West Germany; American and British industrial policies were more adversarial to business in key domains; and while the British welfare state was the most redistributive of the four, the French welfare state was the least redistributive. Prasad shows that these adversarial structures in the United States and Britain created opportunities for politicians to find and mobilize dissatisfaction with the status quo, while the more progrowth policies of France and West Germany prevented politicians of the Right from anchoring neoliberalism in electoral dissatisfaction.
The book opens with a review of the role of money in current society, an overview of the history of money creation and a critique of the main theoretical developments in economic thought. Alternative perspectives on money are then presented through a review of a number of radical perspectives but focusing mainly on the work of Marx, Veblen and the social credit perspective of Douglas and the guild socialists. In the final part of the book contemporary monetary theories and experiments are analysed within the theoretical and historical perspectives provided in the earlier chapters. The main argument of the book is that it is necessary to understand the crucial role of finance in driving the 'free market' economy if a democratic and sustainable economy is to be achieved.
The readings in this volume illustrate several varieties of institutional analysis. Each reading builds upon the foundation of game theory to address similar sets of questions concerning institutions and self-governance. The chapters in the first section lay out interrelated frameworks for analysis. Section two illustrates the normative component of institutions and their effects on human behavior. Readings in the following two sections detail how these frameworks have been applied to models of specific situations. Section five presents a modeling exercise exploring the functions of monitoring and enforcement, and the sixth section discusses approaches to the problems of complexity that confront individuals playing polycentric games. The final readings provide overviews of experimental research on the behavior of rational individuals.
Contributors include Arun Agrawal, Sue E. S. Crawford, Clark C. Gibson, Roberta Herzberg, Larry L. Kiser, Michael McGinnis, Stuart A. Marks, Elinor Ostrom, Vincent Ostrom, James Walker, Franz J. Weissing, John T. Williams, and Rick Wilson.
Michael McGinnis is Associate Professor, Department of Political Science and Co-Associate Director, Workshop in Political Theory and Policy Analysis, Indiana University.
The central insight of the research collected in the volume is this: much can be learned by a careful examination of the ways in which local communities have organized themselves to solve collective problems, achieve common aspirations, and resolve conflicts. The first two sections deal with efforts to manage water and other common-pool resources on a relatively small scale. Section three moves to the macro-level of analysis, with particular attention given to examples of constitutional order from Africa, while section four demonstrates that local organizations and informal networks can play essential roles in furthering democratization and development. The concluding section addresses issues at the national level, by linking the practical world of resource management and development policy to the abstract world of the policy analyst. This collection of essays is designed to illustrate how all the pieces fit together and to suggest connections among multiple levels and modes of analysis.
Contributors include Paula C. Baker, William Blomquist, Larry L. Kiser, Ronald J. Oakerson, Elinor Ostrom, Vincent Ostrom, Roger B. Parks, Stephen L. Percy, Charles M. Tiebout, Martha Vandivort, Robert Warren, Gordon P. Whitaker, and Rick Wilson.
Michael McGinnis is Associate Professor, Department of Political Science and Co-Associate Director, Workshop in Political Theory and Policy Analysis, Indiana University.
Polycentricity and Local Public Economies presents both explorations of broad general concepts and specific empirical analyses. The many interactions between the two modes of analysis provide valuable insights for the reader. Readings in the first section cover basic theoretical concepts and analytical distinctions that apply to the study of institutions generally. The second section includes conceptual pieces specifically addressed to the nature of governance in metropolitan areas, while section three reports on a series of empirical studies of police performance. Section four again broadens the focus to highlight the overall organization of local public economies. The final section discusses conceptual advances that have continuing relevance for research and policy debates.
Contributors include William Blomquist, Kathryn Firmin-Sellers, Roy Gardner, Dele Olowu, Elinor Ostrom, Vincent Ostrom, Amos Sawyer, Edella Schlager, Shui Yan Tang, Wai Fung Lam, and James S. Wunsch.
Michael McGinnis is Associate Professor, Department of Political Science and Co-Associate Director, Workshop in Political Theory and Policy Analysis, Indiana University.
A Postcapitalist Politics reveals a prolific landscape of economic diversity—one that is not exclusively or predominantly capitalist—and examines the challenges and successes of alternative economic interventions. Gibson-Graham bring together political economy, feminist poststructuralism, and economic activism to foreground the ethical decisions, as opposed to structural imperatives, that construct economic “development” pathways. Marshalling empirical evidence from local economic projects and action research in the United States, Australia, and Asia, they produce a distinctive political imaginary with three intersecting moments: a politics of language, of the subject, and of collective action. In the face of an almost universal sense of surrender to capitalist globalization, this book demonstrates that postcapitalist subjects, economies, and communities can be fostered. The authors describe a politics of possibility that can build different economies in place and over space. They urge us to confront the forces that stand in the way of economic experimentation and to explore different ways of moving from theory to action.
J. K. Gibson-Graham is the pen name of Katherine Gibson and Julie Graham, feminist economic geographers who work, respectively, at the Australian National University in Canberra and the University of Massachusetts Amherst.
With keen historical awareness, Ostry examines the role of key economic power brokers, particularly the United States, in the reconstruction and reconfiguration of an international economy after World War II. She argues that U.S. policy efforts were so successful that they led to an unprecedented renewal of economic growth, living standards, and education levels in postwar Europe and Japan. Ironically, those same policy successes unintentionally fostered the relative decline of U.S. dominance on the world trade scene as the reduction of trade and investment barriers prompted friction and conflict between different kinds of capitalist systems.
Identifying the historical and legal issues key to postwar trade policy, Ostry has commandingly charted our economic course through the last half of this century and, perhaps, into the next.
"Sylvia Ostry knows this subject as few others do, both as a scholar of international trade issues and a major player in the ongoing negotiations that have created the rules of the trade game. The Post-Cold War Trading System is a fine summary of where we've been and where we ought to be going."—Peter Passell, economic scene columnist for The New York Times
Hayek Book Prize Finalist
An Economist Best Book of the Year
A Foreign Affairs Best Book of the Year
From one of the world’s leading economists and his coauthors, a cutting-edge analysis of what drives economic growth and a blueprint for prosperity under capitalism.
Crisis seems to follow crisis. Inequality is rising, growth is stagnant, the environment is suffering, and the COVID-19 pandemic has exposed every crack in the system. We hear more and more calls for radical change, even the overthrow of capitalism. But the answer to our problems is not revolution. The answer is to create a better capitalism by understanding and harnessing the power of creative destruction—innovation that disrupts, but that over the past two hundred years has also lifted societies to previously unimagined prosperity.
To explain, Philippe Aghion, Céline Antonin, and Simon Bunel draw on cutting-edge theory and evidence to examine today’s most fundamental economic questions, including the roots of growth and inequality, competition and globalization, the determinants of health and happiness, technological revolutions, secular stagnation, middle-income traps, climate change, and how to recover from economic shocks. They show that we owe our modern standard of living to innovations enabled by free-market capitalism. But we also need state intervention with the appropriate checks and balances to simultaneously foster ongoing economic creativity, manage the social disruption that innovation leaves in its wake, and ensure that yesterday’s superstar innovators don’t pull the ladder up after them to thwart tomorrow’s. A powerful and ambitious reappraisal of the foundations of economic success and a blueprint for change, The Power of Creative Destruction shows that a fair and prosperous future is ultimately ours to make.
Hayek Book Prize Finalist
An Economist Best Book of the Year
A Foreign Affairs Best Book of the Year
A Financial Times Summer Reading Favorite
“Sweeping, authoritative and—for the times—strikingly upbeat…The overall argument is compelling and…it carries a trace of Schumpeterian subversion.”
—The Economist
“[An] important book…Lucid, empirically grounded, wide-ranging, and well-argued.”
—Martin Wolf, Financial Times
“Offers…much needed insight into the sources of economic growth and the kinds of policies that will promote it…All in Washington would do well to read this volume carefully.”
—Milton Ezrati, Forbes
Inequality is on the rise, growth stagnant, the environment in crisis. Covid seems to have exposed every crack in the system. We hear calls for radical change, but the answer is not to junk our economic system but to create a better form of capitalism.
An ambitious reappraisal of the foundations of economic success that shows a fair and prosperous future is ours to make, The Power of Creative Destruction draws on cutting-edge theory and hard evidence to examine today’s most fundamental economic questions: what powers growth, competition, globalization, and middle-income traps; the roots of inequality and climate change; the impact of technology; and how to recover from economic shocks. We owe our modern standard of living to innovations enabled by free-market capitalism, it argues, but we also need state intervention—with checks and balances—to foster economic creativity, manage social disruption, and ensure that yesterday’s superstar innovators don’t pull the ladder up after them.
What is it about free-market ideas that give them tenacious staying power in the face of such manifest failures as persistent unemployment, widening inequality, and the severe financial crises that have stressed Western economies over the past forty years? Fred Block and Margaret Somers extend the work of the great political economist Karl Polanyi to explain why these ideas have revived from disrepute in the wake of the Great Depression and World War II, to become the dominant economic ideology of our time.
Polanyi contends that the free market championed by market liberals never actually existed. While markets are essential to enable individual choice, they cannot be self-regulating because they require ongoing state action. Furthermore, they cannot by themselves provide such necessities of social existence as education, health care, social and personal security, and the right to earn a livelihood. When these public goods are subjected to market principles, social life is threatened and major crises ensue.
Despite these theoretical flaws, market principles are powerfully seductive because they promise to diminish the role of politics in civic and social life. Because politics entails coercion and unsatisfying compromises among groups with deep conflicts, the wish to narrow its scope is understandable. But like Marx's theory that communism will lead to a "withering away of the State," the ideology that free markets can replace government is just as utopian and dangerous.
Why and how systems of political financing and representation in Europe and North America give outsized influence to the wealthy and undermine democracy, and what we can do about it.
One person, one vote. In theory, everyone in a democracy has equal power to decide elections. But it’s hardly news that, in reality, political outcomes are heavily determined by the logic of one dollar, one vote. We take the political power of money for granted. But does it have to be this way? In The Price of Democracy, Julia Cagé combines economic and historical analysis with political theory to show how profoundly our systems in North America and Europe, from think tanks and the media to election campaigns, are shaped by money. She proposes fundamental reforms to bring democracy back into line with its egalitarian promise.
Cagé shows how different countries have tried to develop legislation to curb the power of private money and to develop public systems to fund campaigns and parties. But these attempts have been incoherent and unsystematic. She demonstrates that it is possible to learn from these experiments in the United States, Europe, and elsewhere to design a better system that would increase political participation and trust. This would involve setting a strict cap on private donations and creating a public voucher system to give each voter an equal amount to spend in support of political parties. More radically, Cagé argues that a significant fraction of seats in parliamentary assemblies should be set aside for representatives from disadvantaged socioeconomic groups.
At a time of widespread political disenchantment, The Price of Democracy is a bracing reminder of the problems we face and an inspirational guide to the potential for reform.
The authors support their pragmatic approach with evidence drawn from in-depth analyses of education, transportation, and health care policies. In each policy area, initiatives such as school choice, deregulation of airlines and other carriers, and the promotion of managed care have introduced or enlarged the role of market forces with the aim of eliminating bureaucratic inefficiency. But in each case, the authors show, reality proved to be much more complex than market models predicted. This complexity has resulted in a political cycle—strikingly consistent across policy spheres—that culminates in public interventions to sustain markets while protecting citizens from their undesirable effects. Situating these case studies in the context of more than two hundred years of debate about the role of markets in society, Brown and Jacobs call for a renewed focus on public-private partnerships that recognize and respect each sector’s vital—and fundamentally complementary—role.
Previous studies have tried to explain the Russian response to economic hardship by focusing on the economic, organizational, psychological, cultural, and other obstacles that prevent Russians from acting collectively. Challenging the conventional wisdom by testing these alternative explanations with data from an original nationwide survey, Javeline finds that many of the alternative explanations come up short. Instead, she focuses on the need to specify blame among the dizzying number of culprits and potential problem solvers in the crisis, including Russia's central authorities, local authorities, and enterprise managers. Javeline shows that understanding causal relationships drives human behavior and that specificity in blame attribution for a problem influences whether people address that problem through protest.
Debra Javeline is Assistant Professor of Political Science, Rice University.
A solution to inequalities wherever we look—in health care, secure retirement, education—is as close as the public library. Or the post office, community pool, or local elementary school. Public options—reasonably priced government-provided services that coexist with private options—are all around us, ready to increase opportunity, expand freedom, and reawaken civic engagement if we will only let them.
Whenever you go to your local public library, send mail via the post office, or visit Yosemite, you are taking advantage of a longstanding American tradition: the public option. Some of the most useful and beloved institutions in American life are public options—yet they are seldom celebrated as such. These government-supported opportunities coexist peaceably alongside private options, ensuring equal access and expanding opportunity for all.
Ganesh Sitaraman and Anne Alstott challenge decades of received wisdom about the proper role of government and consider the vast improvements that could come from the expansion of public options. Far from illustrating the impossibility of effective government services, as their critics claim, public options hold the potential to transform American civic life, offering a wealth of solutions to seemingly intractable problems, from housing shortages to the escalating cost of health care.
Imagine a low-cost, high-quality public option for child care. Or an extension of the excellent Thrift Savings Plan for federal employees to all Americans. Or every person having access to an account at the Federal Reserve Bank, with no fees and no minimums. From broadband internet to higher education, The Public Option reveals smart new ways to meet pressing public needs while spurring healthy competition. More effective than vouchers or tax credits, public options could offer us all fairer choices and greater security.
Winner of the Harold Lasswell Award of the American Political Science Association
The FSFIC failed spectacularly during the 1980s, costing taxpayers an estimated $200 billion. In this award-winning analysis, Rom examines the political causes of this “thrift tragedy.” He directly confronts-and rejects-the dominant scholarly “public choice” view that public officials were motivated mainly be self-interest. Instead, Rom argues that politicians and bureaucrats generally acted in the “public spirit” by attempting to obtain the common interest as they saw it. Using new evidence and innovative methods, Rom demonstrates that FSLIC's failure unfolded because of commitments that officials had made in the past and their uncertainties about how to fulfill these obligations in the future.
In this groundbreaking study of a politically controversial topic---the debut offering in Alan Wolfe's Contemporary Political and Social Issues series---author Stephen Monsma avoids overheated rhetoric in favor of a careful, critical analysis of the hard evidence on whether public-private partnerships really work.
The book is based on in-depth studies of social service programs in Los Angeles, Chicago, Philadelphia, and Dallas. By examining public-private partnerships between government offices and nonprofit organizations, Monsma seeks to understand how these partnerships affect the balance between government's efforts to deal with social problems and the rights of individual citizens to control their own lives.
Putting Faith in Partnerships answers many previously unanswered questions in what may be the most controversial public policy debate today: about the feasibility and wisdom of government agencies forming partnerships with private organizations to provide essential public social services.
Stephen V. Monsma is Professor of Political Science at Pepperdine University. He has served as director of the Office of Quality Review in Michigan's Department of Social Services and is a widely recognized expert on the role of faith-based organizations in social service programs.
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