This book investigates the political and economic challenges inherent in managing the transition costs imposed on individuals and groups by policy reforms. Michael J. Trebilcock, a professor of law and economics, utilizes a comparative framework to analyze why governments often struggle to implement efficient policies when those policies create concentrated losses for specific segments of the population. He argues that the political resistance from these 'losers' frequently stalls or distorts necessary economic adjustments, requiring a more sophisticated approach to compensation and transition assistance.

Experts recognize this work as a foundational text for understanding the intersection of political feasibility and economic efficiency in public policy. Scholars frequently cite the book for its rigorous analysis of the institutional barriers that prevent optimal policy outcomes.