The Homevoter Hypothesis
How Home Values Influence Local Government Taxation, School Finance and Land-use Policies
Seiten
2001
Harvard University Press (Verlag)
9780674006096 (ISBN)
Harvard University Press (Verlag)
9780674006096 (ISBN)
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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. The area has a direct bearing on the value of the homeowner's property. This book analyzes the connection between homeownership and political involvement.
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 neighbourhood 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.
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 neighbourhood 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.
William Fischel is Professor of Economics, Dartmouth College. He is also the author of Regulatory Takings (Harvard).
| Erscheint lt. Verlag | 3.12.2001 |
|---|---|
| Zusatzinfo | 2 line illustrations, 1 map, 1 table |
| Verlagsort | Cambridge, Mass |
| Sprache | englisch |
| Maße | 160 x 242 mm |
| Gewicht | 700 g |
| Themenwelt | Sozialwissenschaften ► Politik / Verwaltung ► Staat / Verwaltung |
| Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik | |
| ISBN-13 | 9780674006096 / 9780674006096 |
| Zustand | Neuware |
| Informationen gemäß Produktsicherheitsverordnung (GPSR) | |
| Haben Sie eine Frage zum Produkt? |
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