Reacting to the Spending Spree : Policy Changes We Can Afford
The contributors raise important questions about key areas of reform: Will the current regulatory backlash in response to the financial crisis once again set back financial efficiency, or will it lead to the refinement and improvement of our financial regulatory structure? Will the virtues of free trade and openness trump the perils of protectionism and mutually harmful xenophobia in our and others' policy making? If economic growth and international trade are weakened by ill-conceived, risky "green" policies, will political support for environmental protection be reduced, leaving us with both a poorer economy and a poorer environment?
Although the risks are vital and in fact triggered by most of the proposed reforms, Reacting to the Spending Spree tries to explain how particular reforms can be implemented while significantly mitigating both the risks and the costs.