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Individuals effectively reveal their preferences by "voting with their feet." (Stoddard 2009). In the process of moving into these communities, a population is sorted into optimum communities based on the individuals preferences. Like any model, the Tiebout hypothesis puts forth a set of assumptions -- namely, access to complete information, free consumer mobility, many buyers and sellers, and consumer rationality. Tiebout also added the assumption that an optimal city size exists and that there are no spillovers of costs and benefits to other communities.
The hypothesis has been used to provide insights in public finance about the choices of communities for public goods (e.g., sanitation, education, public security) and how property values correlate with taxes and services that are provided. Zoning laws and regulations have also been explained by using the model. Above all, the hypothesis has had an impact on debates and decision making concerning fiscal federalism and the proper roles of central, regional, and local governments. (ibid.).
The case of a bill passed in June 2009 by the New York Senate which was aimed to ease government consolidation, may be used to illustrate the last point (See Confessore, 2009 June). The law simplifies the complex array of laws specifying "how government officials can choose to dissolve or merge towns, villages and the hundreds of special districts that provide water, sewage treatment and other services throughout the state."
The statute does not propose consolidation as such but only creates a simple, uniform process by which voters and officials can decide on and execute consolidation, requiring only that 10 percent of registered voters to propose it. It will allow county governments to abolish local government units by a majority. On the pro side, the argument is that too many layers of government have burdened residents with the highest taxes in the country, driving out
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(Econ 212G Final Essay Example | Topics and Well Written Essays - 1250 Words)
“Econ 212G Final Essay Example | Topics and Well Written Essays - 1250 Words”, n.d. https://studentshare.org/miscellaneous/1561394-econ-212g-final-essay.
Competition on the other hand however, deals with the removal of any restrictions on the trade in order to ensure that the competition between different players in the market works in healthy and constructive manner. Anti-trust laws are therefore formulated in order to ensure that no one in the free markets can actually dominate the market by creating any kind of barriers or restrictions in order to control the market.
facturing Employment in professional services Employment in wholesale & retail trade New York City 55% 43% 46% 51% Manhattan 16% 35% 28% 26% Richmond 21% 29% 19% 17% New York CBSA 2005 Employment in F.I.R.E Employment in manufacturing Employment in professional services Employment in wholesale & retail trade New York City 45% 33% 50% 40% Manhattan 12% 30% 18% 20% Richmond 10% 15% 17% 7% Detroit CBSA 1970 Employment in F.I.R.E Employment in manufacturing Employment in professional services Employment in wholesale & retail trade Toledo 49% 43% 44% 50% Cleveland 17% 34% 19% 20% Fort Wayne 13% 19% 17% 7% Detroit CBSA 2005 Employment in F.I.R.E Employment in manufacturing Employment in professiona
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