Winner of the 2008 Michael J. Hindelang Book Award from the American Society of Criminology

Winner of the 2007 Albert J. Reiss, Jr. Distinguished Scholarship Award

Over the last thirty years, the prison population in the United States has increased more than seven-fold to over two million people, including vastly disproportionate numbers of minorities and people with little education. For some racial and educational groups, incarceration has become a depressingly regular experience, and prison culture and influence pervade their communities. Almost 60 percent of black male high school drop-outs in their early thirties have spent time in prison. In Punishment and Inequality in America, sociologist Bruce Western explores the recent era of mass incarceration and the serious social and economic consequences it has wrought.

Punishment and Inequality in America dispels many of the myths about the relationships among crime, imprisonment, and inequality. While many people support the increase in incarceration because of recent reductions in crime, Western shows that the decrease in crime rates in the 1990s was mostly fueled by growth in city police forces and the pacification of the drug trade. Getting “tough on crime” with longer sentences only explains about 10 percent of the fall in crime, but has come at a significant cost. Punishment and Inequality in America reveals a strong relationship between incarceration and severely dampened economic prospects for former inmates. Western finds that because of their involvement in the penal system, young black men hardly benefited from the economic boom of the 1990s. Those who spent time in prison had much lower wages and employment rates than did similar men without criminal records. The losses from mass incarceration spread to the social sphere as well, leaving one out of ten young black children with a father behind bars by the end of the 1990s, thereby helping perpetuate the damaging cycle of broken families, poverty, and crime.

The recent explosion of imprisonment is exacting heavy costs on American society and exacerbating inequality. Whereas college or the military were once the formative institutions in young men’s lives, prison has increasingly usurped that role in many communities. Punishment and Inequality in America profiles how the growth in incarceration came about and the toll it is taking on the social and economic fabric of many American communities.

BRUCE WESTERN is professor of sociology at Princeton University.

The Danish economy offers a dose of American labor market flexibility inside a European welfare state. The Danish government allows employers a relatively high level of freedom to dismiss workers, but also provides generous unemployment insurance. Widespread union coverage and an active system of collective bargaining help regulate working conditions in the absence of strong government regulation. Denmark’s rate of low-wage work—8.5 percent—is the lowest of the five countries under analysis. In Low-Wage Work in Denmark, a team of Danish researchers combines comprehensive national registry data with detailed case studies of five industries to explore why low-end jobs are so different in Denmark. Some jobs that are low-paying in the United States, including hotel maids and meat processors, though still demanding, are much more highly compensated in Denmark. And Danes, unlike American workers, do not stay in low-wage jobs for long. Many go on to higher paying jobs, while a significant minority ends up relying temporarily on income support and benefits sustained by one of the highest tax rates in the world.  Low-Wage Work in Denmark provides an insightful look at the particularities of the Danish labor market and the lessons it holds for both the United States and the rest of Europe.

NIELS WESTERGAARD-NIELSEN is professor of economics at the School of Business, University of Aarhus.

CONTRIBUTORS: Anne-Mette Sonne, Nuka Buck, Tor Eriksson, Lars Esbjerg, Jacob K. Eskildsen, Klaus K. Grunert, Jingkun Li, Ann-Kristina Lokke Nielsen, Robert Solow, Ole Henning Sorensen.

A Volume in the RSF Case Studies of Job Quality in Advanced Economies

After Ellis Island is an unprecedented study of America's foreign-born population at a critical juncture in immigration history. The new century had witnessed a tremendous surge in European immigration, and by 1910 immigrants and their children numbered nearly one third of the U.S. population. The census of that year drew from these newcomers a particularly rich trove of descriptive information, one from which the contributors to After Ellis Island draw to create an unmatched profile of American society in transition.

Chapters written especially for this volume explore many aspects of the immigrants' lives, such as where they settled, the jobs they held, how long they remained in school, and whether or not they learned to speak English. More than a demographic catalog, After Ellis Island employs a wide range of comparisons among ethnic groups to probe whether differences in childbirth, child mortality, and education could be traced to cultural or environmental causes. Did differences in schooling levels diminish among groups in the same social and economic circumstances, or did they persist along ethnic lines? Did absorption into mainstream America—measured through duration of U.S. residence, neighborhood mingling, and ability to speak English—blur ethnic differences and increase chances for success? After Ellis Island also shows how immigrants eased the nation's transition from agriculture to manufacturing by providing essential industrial laborers.

After Ellis Island offers a major assessment of ethnic diversity in early twentieth century American society. The questions it addresses about assimilation and employment among immigrants in 1910 acquire even greater significance as we observe a renewed surge of foreign arrivals. This volume will be valuable to sociologists and historians of immigration, to demographers and economists, and to all those interested in the relationship of ethnicity to opportunity.

SUSAN COTTS WATKINS is associate professor at the University of Pennsylvania.

CONTRIBUTORS: Robert F. Dymowski, Douglas Ewbank, Margaret E. Greene, Mark Hereward, Jerry A. Jacobs, Antonio McDaniel, Andrew T. Miller, Ann R. Miller, Ewa Morawska, S. Philip Morgan, Samuel H. Preston, Arodys Robles, Shilian Wang, Susan Cotts Watkins, and Michael J. White

New York City stands as the first expression of the modern city, a mosaic of disparate neighborhoods born in 1898 with the amalgamation of the five boroughs and shaped by the passions of developers and regulators, architects and engineers, politicians and reformers, immigrant entrepreneurs and corporate builders. Through their labor, their ideals, and their often fierce battles, the physical and social dimensions—the landscape—of the modern city were forged. The original essays in The Landscape of Modernity tell the compelling story of the growth of New York City from 1900 to 1940, from the beginnings of its skyscraper skyline to the expanding reaches of suburbanization.

At the beginning of the century, New York City was already one of the world's leading corporate and commercial centers. The Zoning Ordinance of 1916, initially proposed by Fifth Avenue merchants as a means of halting the uptown spread of the garment industry, became the nation's first comprehensive zoning law and the proving ground for a new occupation—the urban planner. During the 1920s, frenzied development created a vertical metamorphosis in Manhattan's booming business district, culminating in its most spectacularly modern icon, the Empire State Building. The city also spread laterally, with the controversial development of subway systems and the creation of the powerful Port of New York Authority, whose new bridges and tunnels decentralized the population and industry of New York. New York's older ethnic enclaves were irrevocably altered by this new urban landscape: the Lower East Side's Jewish community was nearly dismantled by the flight of the garment industry and the attractiveness of new suburbs, while Little Italy fought government forces eager to homogenize commercial use of the streets by eliminating the traditional pushcart peddlers.

Illustrated with striking photographs and maps, The Landscape of Modernity links important scenes of growth and development to the larger political, economic, social, and cultural processes of the early twentieth century.

DAVID WARD is professor of geography and Vice-Chancellor at the University of Wisconsin, Madison.

OLIVIER ZUNZ is professor of history at the University of Virginia.

CONTRIBUTORS: Daniel Bluestone, Jameson W. Doig, Gail Fenske, Robert Fishman, Donna Gabaccia, Nancy L. Green, Deryck Holdsworth, Clifton Hood, Thomas Kessner, Deborah Dash Moore, David Nasaw, Keith D. Revel, David Ward, Marc A. Weiss, Carol Willis, Olivier Zunz.

Winner of the 1997 Thomas and Znaniecki Award from the International Migration Section of the American Sociological Association

Since 1965 more immigrants have come to Los Angeles than anywhere else in the United States. These newcomers have rapidly and profoundly transformed the city's ethnic makeup and sparked heated debate over their impact on the region's troubled economy. Ethnic Los Angeles presents a multi-investigator study of L.A.'s immigrant population, exploring the scope, characteristics, and consequences of ethnic transition in the nation's second most populous urban center.

Using the wealth of information contained in the U.S. censuses of 1970, 1980, and 1990, essays on each of L.A.'s major ethnic groups tell who the immigrants are, where they come from, the skills they bring and their sources of employment, and the nature of their families and social networks. The contributors explain the history of legislation and economic change that made the city a magnet for immigration, and compare the progress of new immigrants to those of previous eras. Recent immigrants to Los Angeles follow no uniform course of adaptation, nor do they simply assimilate into the mainstream society. Instead, they have entered into distinct niches at both the high and low ends of the economic spectrum. While Asians and Middle Easterners have thrived within the medical and technical professions, low-skill newcomers from Central America provide cheap labor in light manufacturing industries.

As Ethnic Los Angeles makes clear, the city's future will depend both on how well its economy accommodates its diverse population, and on how that population adapts to economic changes. The more prosperous immigrants arrived already possessed of advanced educations and skills, but what does the future hold for less-skilled newcomers? Will their children be able to advance socially and economically, as the children of previous immigrants once did? The contributors examine the effect of racial discrimination, both in favoring low-skilled immigrant job seekers over African Americans, and in preventing the more successful immigrants and native-born ethnic groups from achieving full economic parity with whites.

Ethnic Los Angeles is an illuminating portrait of a city whose unprecedented changes are sure to be replicated in other urban areas as new concentrations of immigrants develop. Backed by detailed demographic information and insightful analyses, this volume engages all of the issues that are central to today's debates about immigration, ethnicity, and economic opportunity in a post-industrial urban society.

ROGER WALDINGER is professor of sociology and acting director of the Lewis Center for Regional Policy Studies, University of California, Los Angeles.

MEHDI BOZORGMEHR is assistant professor of sociology at City College, City University of New York.

CONTRIBUTORS
Lucie C. Cheng, William A. V. Clark, Claudia DeMartirosian, David Grant, Angela James, John Laslett, Michael Lichter, Ivan Light, David Lopez, Ali Modarres, Melvin Oliver, Paul Ong, Vilma Ortiz, Eric Popkin, Betsy Roach, Georges Sabagh, Allen J. Scott, Edward Telles, Abel Valenzuela, Philip Yang

Philosophers have long tussled over whether moral judgments are the products of logical reasoning or simply emotional reactions. From Jane Austen’s Sense and Sensibility to the debates of modern psychologists, the question of whether feeling or sober rationality is the better guide to decision making has been a source of controversy. In Do Emotions Help or Hurt Decision Making? Kathleen Vohs, Roy Baumeister, and George Loewenstein lead a group of prominent psychologists and economists in exploring the empirical evidence on how emotions shape judgments and choices.

Researchers on emotion and cognition have staked out many extreme positions: viewing emotions as either the driving force behind cognition or its side effect, either an impediment to sound judgment or a guide to wise decisions. The contributors to Do Emotions Help or Hurt Decision Making? provide a richer perspective, exploring the circumstances that shape whether emotions play a harmful or helpful role in decisions. Roy Baumeister, C. Nathan DeWall, and Liqing Zhang show that while an individual’s current emotional state can lead to hasty decisions and self-destructive behavior, anticipating future emotional outcomes can be a helpful guide to making sensible decisions. Eduardo Andrade and Joel Cohen find that a positive mood can negatively affect people’s willingness to act altruistically. Happy people, when made aware of risks associated with altruistic acts, become wary of jeopardizing their own well-being. Benoît Monin, David Pizarro, and Jennifer Beer find that whether emotion or reason matters more in moral evaluation depends on the specific issue in question. Individual characteristics often mediate the effect of emotions on decisions. Catherine Rawn, Nicole Mead, Peter Kerkhof, and Kathleen Vohs find that whether an individual makes a decision based on emotion depends both on the type of decision in question and the individual’s level of self-esteem. And Quinn Kennedy and Mara Mather show that the elderly are better able to regulate their emotions, having learned from experience to anticipate the emotional consequences of their behavior.

Do Emotions Help or Hurt Decision Making? represents a significant advance toward a comprehensive theory of emotions and cognition that accounts for the nuances of the mental processes involved. This landmark book will be a stimulus to scholarly debates as well as an informative guide to everyday decisions.

KATHLEEN D. VOHS is the McKnight Land-Grant Professor and assistant professor in the Carlson School of Management at the University of Minnesota.

ROY F. BAUMEISTER is the Francis Eppes Eminent Scholar and professor of psychology at Florida State University.

GEORGE LOEWENSTEIN is the Herbert A. Simon Professor of Economics and Psychology at Carnegie Mellon University.

CONTRIBUTORS: Christopher J. Anderson, Eduardo B. Andrade, Roy F. Baumeister, Jennifer S. Beer, Joel B. Cohen, C. Nathan DeWall, Matthew T. Gailliot, Karen Gasper, Lorenz Goette, David Huffman, Linda M. Isbell, Quinn Kennedy, Peter Kerkhof, Jonathan Levav, Debra Lieberman, George Loewenstein, Mara Mather, Nicole L. Mead, Benoît Monin, Robert Oum, David A. Pizarro, Catherine D. Rawn, Dianne M. Tice, Jennifer L. Trujillo, Kathleen D. Vohs, Piotr Winkielman, John M. Zelenski, and Liqing Zhang
 

Standard economic theory is built on the assumption that human beings act rationally in their own self interest. But if rationality is such a reliable factor, why do economic models so often fail to predict market behavior accurately? According to Richard Thaler, the shortcomings of the standard approach arise from its failure to take into account systematic mental biases that color all human judgements and decisions. Economics assumes behavior is consistently rational, when it is, in fact, only partially, or quasi-rational.

The papers collected in Quasi-Rational Economics represent a significant sampling of this innovative approach, written by a leader in the field along with co-authors Thomas Russell, H. M. Shefrin, Daniel Kahneman, Jack Knetsch, Werner De Bondt, Eric Johnson, Charles Lee, and Andrei Shleifer. Thaler and his colleagues challenge established economic theories in such areas as consumer choice and financial markets, offering empirical evidence and alternate models based on behavioral research about how economic decisions are actually made.

Quasi-Rational Economics deals with a number of intriguing questions. Why do people have trouble ignoring sunk costs and recognizing opportunity costs? How do people’s preferences for already endowed possessions suppress trading volume and keep markets from clearing? What are the effects on market behavior of consumer attitudes about fairness? How do people’s mental accounting procedures lead them to behave in economically inconsistent ways? Why do investors’ tendencies to overreact to past trends cause losing firms to outperform winners in the stock market?

In offering answers to these questions, Quasi-Rational Economics provides an essential introduction to a new field. It mounts a trenchant critique of current practice in economics and calls for richer, more realistic approaches to formulating and testing economic theory. More than just a call for reform, this book provides numerous illustrations of how the call can be answered.

"Richard Thaler's book offers great evidence for the importance of quasi rational behavior in economic settings, thus stimulating the reader. Its broad coverage makes an interesting introduction to a new field, as well as informing about further applications and methods." —Kyklos

RICHARD H. THALER is Henrietta Johnson Louis Professor of Economics and director of the Center for Behavioral Economics and Decision Research, Johnson Graduate School of Management, Cornell University. He is research associate at the National Bureau of Economic Research.

Modern financial markets offer the real world's best approximation to the idealized price auction market envisioned in economic theory. Nevertheless, as the increasingly exquisite and detailed financial data demonstrate, financial markets often fail to behave as they should if trading were truly dominated by the fully rational investors that populate financial theories.

These markets anomalies have spawned a new approach to finance, one which as editor Richard Thaler puts it, "entertains the possibility that some agents in the economy behave less than fully rationally some of the time." Advances in Behavioral Finance collects together twenty-one recent articles that illustrate the power of this approach. These papers demonstrate how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena.

To take several examples, Werner De Bondt and Thaler find an explanation for superior price performance of firms with poor recent earnings histories in the tendencies of investors to overreact to recent information. Richard Roll traces the negative effects of corporate takeovers on the stock prices of the acquiring firms to the overconfidence of managers, who fail to recognize the contributions of chance to their past successes. Andrei Shleifer and Robert Vishny show how the difficulty of establishing a reliable reputation for correctly assessing the value of long term capital projects can lead investment analysis, and hence corporate managers, to focus myopically on short term returns.

As a testing ground for assessing the empirical accuracy of behavioral theories, the successful studies in this landmark collection reach beyond the world of finance to suggest, very powerfully, the importance of pursuing behavioral approaches to other areas of economic life. Advances in Behavioral Finance is a solid beachhead for behavioral work in the financial arena and a clear promise of wider application for behavioral economics in the future.

RICHARD H. THALER is Henrietta Johnson Louis Professor of Economics, and director of the Center for Behavioral Economics and Decision Research, Johnson Graduate School of Management, Cornell University.

CONTRIBUTORS: Lawrence M. Ausubel, Victor L. Bernard, Fischer Black, Navin Chopra, David M. Cutler, Werner F. M. De Bondt, J. Bradford De Long, Jeffrey A. Frankel, Kenneth R. French, Kenneth A. Froot, Josef Lakonishok, Charles M. C. Lee, James M. Poterba, Jay R. Ritter, Richard Roll, Hersh M. Shefrin, Robert J. Shiller, Andrei Shleifer, Meir Statman, Jeremy Stein, Lawrence H. Summers, Richard H. Thaler, Robert W. Vishny, and Robert J. Waldmann

Times Square, in its heyday, expressed American culture in the moment of vivid change. A stellar group of critics and scholars examines this transitional moment in Inventing Times Square, a study of the development of New York's central entertainment district. A fascinating visit to Times Square, from its christening in 1905 to its eventual decline after the Depression, the book explores the colorful configuration of institutions and cultural practices that propelled Times Square from a local and regional entertainment center to a national cultural marketplace.

Changes in the economy, in religion, in leisure culture, and in aesthetics gave birth to a geographical space that fostered Vaudeville and Tin Pan Alley, Flo Ziegfeld and Billy Rose, the spectacle of the Hippodrome and the bright lights of the Great White Way. Out of this same place eventually came national network radio and many Hollywood films. Though conceived as a public space, Times Square was quickly transformed into a commercial center. Power brokers wielded their influence on a public ready to succumb to consumerism. Theatrical entertainment  became a large-scale national business based in, and operated out of, Times Square. A new commercial aesthetic travelled with Joseph Urban from Vienna to Times Square to Palm Beach, bringing to society a sophisticated style that will forever say "Broadway."

Times Square as the "center of the universe" had its darker sides as well, for it was the testing ground for a new morality. The packaging of sexuality on the stage gave it legitimacy on the streets, as hotels and sidewalks became the province of female prostitution, male hustling, and pornography.

At the center of New York City, Times Square's commercial activities gave full rein to urban appetites and fantasies, and challenged and defied the norms of behavior that prevailed elsewhere in the city. Cultural history at its finest, Inventing Times Square portrays the vibrant convergence of social and economic forces on Forty-second Street.

WILLIAM R. TAYLOR teaches history at State University of New York at Stony Brook and is program director of the New York Institute for the Humanities at New York University.

CONTRIBUTORS: Jean-Christophe Agnew, Betsy Blackmar, Peter Buckley, George Chauncey Jr., Peter A. Davis, Lewis A. Erenberg, Richard Wightman Fox, Philip Furia, Timothy J. Gilfoyle, Gregory Gilmartin, David Hammack, Ada Louise Huxtable, Margaret Knapp, Eric Lampard, William R. Leach, Brooks McNamara, William Wood Register Jr., Laurence Senelick, Robert W. Snyder, William R. Taylor.

Since the mid-1980s, as public discourse has focused increasingly on the troubled economy, many social scientists have argued the need for more analysis of the social relationships that undergird economic life. The original essays in Explorations in Economic Sociology represent the most important work in this renewed field and employ a rich variety of research methods—theoretical, ethnographic, and historical—to illustrate its key concerns.

Explorations in Economic Sociology forges innovative social theories of such economic institutions as money, markets, and industry. Although traditional economists have identified markets as driven solely by the forces of supply and demand, social factors frequently intervene. Sales at auction are determined not simply by a seller's personal knowledge of customers. Shareholder attitudes and employee organization influence everything from the way firms borrow money to the way corporate performance is measured. Firms themselves operate in social networks in which trust is a crucial factor in settling the terms for cooperation or competition.

Throughout the essays in this volume, the contributors point the way to developing a more healthy economy by fostering productive industrial networks, avoiding disintegration at management levels, and anticipating the consequences of the shift from manufacturing to service industries. Explorations in Economic Sociology is a pioneering work that bridges the gap between social theory and economic analysis and demonstrates the importance of this union in achieving an effective understanding of economic issues. The book should stimulate new interest in economic sociology by bringing together many of its most fundamental voices.

RICHARD SWEDBERG is professor of sociology at the University of Stockholm.

CONTRIBUTORS: Ronald S. Burt, Mark Granovetter, Paul M. Hirsch, Mark Lazerson, Patrick McGuire, Marshall W. Meyer, Mark S. Mizruchi, Charles Perrow, Frank Romo, Charles F. Sabel, Michael Schwartz, Charles W. Smith, Linda Brewster Stearns, Richard Swedberg, Michael Useem, Harrison C. White, and Viviana A. Zelizer