Reparations,Once Again

Reparations whether to blacks for slavery, or to Indians for land theft, or to settle any number of other conflicts, has an interesting political background. Analysts on the left, who are usually no friend of private property rights, nevertheless rely on this doctrine to support their case for reparations. Those on the right, in contrast, who supposedly defend the institution of property rights, jettison them when it comes to reparations. It is only libertarians, such as the present authors, who both favor private property rights in general, and, also, apply them to the issue of reparations, who are logically consistent.

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Wirtschaftspolitischer Handlungsspielraum im Zeitalter der Globalisierung. Eine empirische Untersuchung am Beispiel von Währungskrisen

This article assesses the popular view that currency crises represent a prime example of the constraints that globalization imposes on governments’ policy autonomy. We show that governments in fact have the possibility to respond to speculative pressure in different ways. Whether or not policymakers succumb to this pressure is not solely determined by economic factors but also a question of political considerations. Political preferences, institutions, and events significantly affect policy responses to currency crises. Our results suggest that national governments retain substantial short-run policy autonomy even in highly internationalized policy areas such as monetary and exchange rate policy.     

Candidate Valence and Ideological Positions in U.S. House Elections

We examine the relationship between the valence qualities of candidates and the ideological positions they take in U.S. House elections based on a study of the 2006 midterm elections. Our design enables us to distinguish between campaign and character dimensions of candidate valence and to place candidates and districts on the same ideological scale. Incumbents with a personal‐character advantage are closer ideologically to their district preferences, while disadvantaged challengers take more extreme policy positions. Contrary to conventional wisdom, challengers can reap electoral rewards by taking more extreme positions relative to their districts. We explore a possible mechanism for this extremism effect by demonstrating that challengers closer to the extreme received greater financial contributions, which enhanced their chances of victory. Our results bear on theories of representation that include policy and valence, although the interactions between these two dimensions may be complex and counterintuitive.     

Caught in quicksand? Compliance and legitimacy challenges in using regulatory sandboxes to manage emerging technologies

Regulatory sandboxes have become the latest development in regulatory reform, starting first in financial regulation and now expanding to other sectors. While sandboxes offer notable potential benefits for managing emerging technologies, achieving desirable policy outcomes with this novel regulatory instrument also comes with technical and political challenges. This article offers a framework to characterize regulatory sandboxes in any sector, involving a blend of (1) approval regulation with broad-based standards, (2) restricted discretion by the regulator for specific norms, (3) process-oriented regulation, (4) an outcomes-orientation, and (5) structured regulator–regulatee information sharing or dialogue. Using this model, the article outlines issues in compliance and legitimacy, including in trust and accountability, responsive enforcement, the politics of participation, and post-sandbox oversight. The article concludes by calling for greater scrutiny when considering implementing a sandbox instrument, with attention to sector-specific concerns, and offering directions for empirical evaluation of regulatory sandboxes.     

War & Society,Centeno, Miguel A. and Elaine Enriquez. (Cambridge,UK: Polity Press, 2016).

A bumper sticker on many cars in college and university parking lots proclaims: “WAR IS NOT THE ANSWER.” Most American students and faculty spend their entire time at university without thinking about war, except that they want to avoid it at all cost. Miguel Centeno, the Musgrave Professor of Sociology and International Affairs at Princeton University, and Elaine Enriquez, a research fellow also at Princeton, argue that war has been a normal part of human existence since time immemorial and that it deserves to be studied as a sociopolitical phenomenon in its own right. The authors employ a longue durée comparative approach to demonstrate how war has been responsible for some of humankind’s fundamental institutions and practices, and thus must not be condemned as immoral, irrational, stupid, or evil. War has a history of its own that deserves serious study.     

The Political Consequences of National Crisis Management: Micro-Level Evidence from German Voters during the 2008/09 Global Economic Crisis

How does national crisis management affect the electoral fortunes of coalition governments? Drawing on micro-level data from just before the 2009 federal elections in Germany, this article investigates how voters' evaluation of specific policies against the global financial crisis affected approval of and voting intentions for the then-governing grand coalition. We find that voters in favour of the two most prominent anti-crisis policies, the car-scrap bonus and the public guarantee for banks, were more likely to approve of and to vote for the two incumbent parties. These evaluations of specific policies influenced individuals' vote choice in addition to their assessments of the economic situation more generally and in addition to party identification. This suggests that even in the greatest economic turmoil with blurred political responsibilities, government parties can win or lose voters through the implementation of specific economic policies.