William A. Fischel's Books

The Homevoter Hypothesis

By: William A. Fischel

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Just as investors want the companies they hold equity in to do well, homeowners have a financial interest in the success of their communities. If neighborhood schools are good, if property taxes and crime rates are low, then the value of the homeowner’s principal asset—his home—will rise. Thus, as William Fischel shows, homeowners become watchful citizens of local government, not merely to improve their quality of life, but also to counteract the risk to their largest asset, a risk that cannot be diversified. Meanwhile, their vigilance promotes a municipal governance that provides services more efficiently than do the state or national government. Fischel has coined the portmanteau word “homevoter” to crystallize the connection between homeownership and political involvement. The link neatly explains several vexing puzzles, such as why displacement of local taxation by state funds reduces school quality and why local governments are more likely to be efficient providers of environmental amenities. The Homevoter Hypothesis thereby makes a strong case for decentralization of the fiscal and regulatory functions of government.

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Page Count

362

Publisher

Harvard University Press

Published Date

ISBN 10

0674036905

ISBN 13

9780674036901

The Economics of Zoning Laws

A Property Rights Approach to American Land Use Controls

By: William A. Fischel

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The Economics of Zoning Laws

A Property Rights Approach to American Land Use Controls

By: William A. Fischel

Land use controls can affect the quality of the environment, the provision of public services, the distribution of income and wealth, the development of natural resources, and the growth of the national economy. The Economics of Zoning Laws is the first book to apply the modern economic theory of property rights to all major aspects of zoning. Zoning laws are neither irrational constrints on otherwise efficient markets nor disinterested attempts to correct market failure. Rather, zoning must be viewed as a collective property right, vested in local governments and administered by politicians who rationally repsond to their constituents and to developers as markets for development rights arise. The Economics of Zoning Laws develops the economic theories of property rights and public choice and applies them to three zoning controversies: the siting of a large industrial plant, the exclusionary zoning of the suburbs, and the constitutional protection of propery owners from excessive regulation. Economic and legal theory, William Fischel contends, suggest that payment of damages under the taking clause of the Constitution may provide the most effective remedy for excessive zoning regulations.

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Page Count

396

Publisher

JHU Press

Published Date

ISBN 10

0801835623

ISBN 13

9780801835629

Making the Grade

The Economic Evolution of American School Districts

By: William A. Fischel

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Making the Grade

The Economic Evolution of American School Districts

By: William A. Fischel

A significant factor for many people deciding where to live is the quality of the local school district, with superior schools creating a price premium for housing. The result is a “race to the top,” as all school districts attempt to improve their performance in order to attract homebuyers. Given the importance of school districts to the daily lives of children and families, it is surprising that their evolution has not received much attention. In this provocative book, William Fischel argues that the historical development of school districts reflects Americans’ desire to make their communities attractive to outsiders. The result has been a standardized, interchangeable system of education not overly demanding for either students or teachers, one that involved parents and local voters in its governance and finance. Innovative in its focus on bottom-up processes generated by individual behaviors rather than top-down decisions by bureaucrats, Making the Grade provides a new perspective on education reform that emphasizes how public schools form the basis for the localized social capital in American towns and cities.

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Page Count

312

Publisher

University of Chicago Press

Published Date

ISBN 10

0226251314

ISBN 13

9780226251318

Regulatory Takings

Law, Economics, and Politics

By: William A. Fischel

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Regulatory Takings

Law, Economics, and Politics

By: William A. Fischel

State and federal government regulations are disciplined by property-owner coalitions whose "voice" is clearly audible in the statehouses and in Congress.

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Page Count

446

Publisher

Harvard University Press

Published Date

ISBN 10

0674753887

ISBN 13

9780674753884

The Permanent Tax Revolt

How the Property Tax Transformed American Politics

By: Isaac William Martin

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The Permanent Tax Revolt

How the Property Tax Transformed American Politics

By: Isaac William Martin

Tax cuts are such a pervasive feature of the American political landscape that the political establishment rarely questions them. Since 2001, Congress has abolished the tax on inherited wealth and passed a major income tax cut every year, including two of the three largest income tax cuts in American history despite a long drawn-out war and massive budget deficits. The Permanent Tax Revolt traces the origins of this anti-tax campaign to the 1970s, in particular, to the influence of grassroots tax rebellions as homeowners across the United States rallied to protest their local property taxes. Isaac William Martin advances the provocative new argument that the property tax revolt was not a conservative backlash against big government, but instead a defensive movement for government protection from the market. The tax privilege that the tax rebels were defending was in fact one of the largest government social programs in the postwar era. While the movement to defend homeowners' tax breaks drew much of its inspiration—and many of its early leaders—from the progressive movement for welfare rights, politicians on both sides of the aisle quickly learned that supporting big tax cuts was good politics. In time, American political institutions and the strategic choices made by the protesters ultimately channeled the movement toward the kind of tax relief favored by the political right, with dramatic consequences for American politics today.

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Page Count

376

Publisher

Stanford University Press

Published Date

ISBN 10

0804763178

ISBN 13

9780804763172

The Theory of Environmental Policy

By: William J. Baumol,Wallace E. Oates

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The Theory of Environmental Policy

By: William J. Baumol,Wallace E. Oates

An analysis of the economic theory of environmental policy and the factors influencing the quality of life. Recent research in environmental economics is incorporated as well as economic incentives for pollution control.

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Page Count

314

Publisher

Cambridge University Press

Published Date

ISBN 10

0521311128

ISBN 13

9780521311120

Regulatory Takings

Law, Economics, and Politics

By: William A. Fischel

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Regulatory Takings

Law, Economics, and Politics

By: William A. Fischel

State and federal government regulations are disciplined by property-owner coalitions whose "voice" is clearly audible in the statehouses and in Congress.

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Solve jigsaw puzzle

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Page Count

446

Publisher

Harvard University Press

Published Date

ISBN 10

0674753887

ISBN 13

9780674753884

Book's by William A. Fischel

The Homevoter Hypothesis

The Homevoter Hypothesis

The Economics of Zoning Laws

The Economics of Zoning Laws

Making the Grade

Making the Grade

Regulatory Takings

Regulatory Takings

The Permanent Tax Revolt

The Permanent Tax Revolt

The Theory of Environmental Policy

The Theory of Environmental Policy

Regulatory Takings

Regulatory Takings

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