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Mary Reintsma

The welfare system in the United States underwent profound changes as a result of the groundbreaking welfare legislation passed in 1996 entitled The Personal Responsibility and Work Opportunities Reconciliation Act (PRWORA). The Political Economy of Welfare Reform in the United States examines in detail the legislative process that gave rise to PRWORA and presents two alternative theories to explain this process; the traditional public interest model of government and the public choice model. On the basis of a detailed historical analysis of welfare programs and policies in the US, the author explains the two alternative theories and engages in a detailed institutional and statistical analysis to make a convincing argument for the validity of the public choice paradigm.
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Mary Reintsma

9. An econometric analysis of the variables affecting changes in welfare caseloads In this chapter the comparative analysis of the public interest and public choice theories of government shifts both in focus and methodology. The focus of the previous chapter was on the legislative process and the methodology was institutional analysis. In this current chapter the focus is on legislative outcomes and the methodology will be an econometric analysis of a specific outcome – changes in welfare caseloads. A primary objective of those interest groups shown to have most

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Mary Reintsma

6. The origins of the new welfare law – a historical overview This chapter briefly traces the historical development of welfare, from individual charity motivated primarily by moral values and administered within the community or parish, to large-scale governmental charity, administered at both national and local levels, and for which the motivations are far more complicated than simple benevolence. The interests and values of different elements within the society and the effectiveness of the interest groups that they comprise are highlighted in the chapter

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Mary Reintsma

economic theory as applied to the private sector, that rational individuals pursue their own self-interest, the theory can be used to explain or predict the effect of such behavior on a particular outcome in the public sector. Thus, in the case of welfare, the legislative outcome would be predicted to be a result of the inputs of self-interested individuals acting either individually or, more often, in the context of a particular interest group and constrained by the institutional context of the legislative process. This research was undertaken to examine the validity of

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Killian J. McCarthy and Tao Zhu

borrowing more expensive, and lowers the rates of investment in property, while a rise in long-term interest rates suggests a positive outlook, rising property prices, and economic growth, and this attractiveness of current investment. Finally, we observe that the average income level is positively related with property sale, and that a 1 per cent rise in the former causes a 3.5 per cent expansion in the latter. This, again, is an intuitive finding, and taken together the results of Model 1 provides evidence in support of Hypothesis 1, on the natural and familiar

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Wilfred Dolfsma

but certainly not developing countries – it is under these circumstances that the general interest of the two groups of countries conflict.10 Pooling of patents may be efficient, but it certainly also constitutes an entry barrier and is disadvantageous for smaller firms (Lanjouw and Schankermann 2004).11 Litigation costs can be so inhibitive that individual and small firm patent holders strike a deal with a large firm that filed a suit even when on legal grounds they would have a strong case; listed firms have lower filing rates (Lanjouw and Schankermann 2004

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Government Failure

Society, Markets and Rules

Wilfred Dolfsma

This highly unique book takes a fundamental look at when and how a government can fail at its core responsibility of formulating rules. Government, representing society, relates to the economy by formulating the rules within which (market) players should operate. Although market and business failure are much discussed in the economics literature, government failure is often overlooked. This book addresses this gap, exploring in detail what constitutes government failure.