By Cass R. Sunstein, Stephen Holmes
The easy perception that each one legally enforceable rights price cash reminds us that freedom isn't really violated through a central authority that taxes and spends, yet calls for it—and calls for a citizenry vigilant approximately how cash is allotted. Drawing from those sensible, common sense notions, The rate of Rights offers an invaluable corrective to the all-or-nothing consider of a lot political debate these days (The Economist).
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Additional resources for The Cost of Rights: Why Liberty Depends on Taxes
Sample text
The Commission’s proposal for a Directive on an internal market for pension funds was thus completely at odds with the French approach to organizing pensions and to regulating investment constraints for institutions of retirement provision. The high degree of policy misfit alone should have already been sufficient to trigger the opposition of the French government. Yet, bridging this gap between national policy arrangements and supranational requirements that were to be defined through the proposal was further complicated by the interests embedded within the French system.
Where the proposal for a Council Directive outlined investment rules according to the prudent person rule by stating, for example, that “the assets shall be sufficiently diversified in such a way as to avoid major accumulations of risk in the portfolio as a whole” (article 4 (1) b), the Communication simply replaced the word “shall” with the word “should” (Commission 1994: 10). Similarly, both documents contained almost identical provisions with respect to obligations regarding currency matching.
Duina, F. G. (1997). Explaining legal implementation in the European Union. International Journal of the Sociology of Law, 25, 155–179. Economic and Social Committee. (1992). Opinion of the economic and social committee on the proposal for a council directive relating to the freedom of management and investment of funds held by institutions for retirement provision (COM (91) 301 final—SYN 363). Official Journal of the European Communities, 1992(C 169), 2–6. , & Leiber, S. (2005). Complying with Europe.