Glazer argues that the U.S. government's ability to implement policies is strongly affected by economic constraints, such as their credibility, the level of government commitment, the extent to which firms and consumers rationally anticipate their effects, and whether policy success encourages firms and individuals to behave in intended ways.

This seventh edition of the book offers extensive discussion of information, uncertainty, and game theory.

This book integrates the economics of aging and insight based on political economy and explores generational conflict in the context of governmental spending. This problem is general, as the Covid-19 pandemic has highlighted: lockdowns protect the elderly, but hurt the young. Policies to address global warming impose taxes on the elderly, but would bring benefits largely in the future. This book addresses intergenerational problems by placing its focus on budget allocation, taxation, and regulation. By using Japanese and US data, the authors conduct statistical analysis of whether regions with aging populations may adopt policies that generate benefits during a short period of time instead of policies that could benefit current young generations for an extended period of time. If the policy preferences of voters depend on their age, and if policy adoption by a government reflects public opinion, the change in demographic composition in a region may affect governmental policies. In an aged society, the elderly are pivotal voters. Budgets may be reallocated from policies favored by younger generations, such as education, to policies the elderly prefer, such as welfare programs. This generates an intergenerational externality problem: voters with short life expectancy do not take into consideration long-term benefits. Moreover, the current tax bases may be replaced by other tax bases that do not harm the elderly. The results reported in the book largely support these hypotheses. Evidence also shows that the gender and racial composition and institutional factors, including the extent of fiscal decentralization, are important in anticipating effects of population aging in other countries.

Political scholars examine the dynamic evolution of laws over time in a volume that "pushes the frontiers of knowledge about lawmaking in the US" ( Choice). Politics is at its most dramatic during debates over important pieces of legislation. And while debates over legislative measures can rage for years or even decades before an item is enacted, they also endure long afterward, when the political legacy of a law eventually comes into focus. With a diverse set of contributors—including quantitative political scientists, political development scholars, historians, and economists— Living Legislation provides fresh insights into contemporary American politics and public policy. Many of the contributors to this volume focus on the question of why some laws stand the test of time while others are eliminated, replaced, or significantly amended. Others discuss how laws emerge from—and effect change within—coalition structures; the effectiveness of laws at mediating partisan conflicts; and the ways in which laws interact with broader shifts in the political environment. An essential addition to the study of politics, Living Legislation enhances understanding of democracy, governance, and power.