This comprehensive work—relevant to the major issue of the relation of social knowledge to political power—argues for strengthening the role of the social sciences in the federal government. It calls for a central organization for the social sciences and for better integration of research within the federal agencies. It underscores the various factors that might help to bring about this goal.

GENE M. LYONS is professor of government at Dartmouth College.
 

The reach of the social and behavioral sciences is currently so broad and interdisciplinary that staying abreast of developments has become a daunting task. The thirty papers that constitute Leading Edges in Social and Behavioral Science provide a unique composite picture of recent findings and promising new research opportunities within most areas of social and behavioral research. Prepared by expert scholars under the auspices of the National Academy of Sciences, these timely and well-documented reports define research priorities for an impressive range of topics:

Part I: Mind and Brain

Part II: Behavior in Social Context

Part III: Choice and Allocation

Part IV: Evolving Institutions

Part V: Societies and International Orders

Part VI: Data and Analysis

R. DUNCAN LUCE is Distinguished Professor of Cognitive Science and director of the Irvine Research Center in Mathematic Behavioral Science at the University of California, Irvine.

NEIL J. SMELSER is University Professor of Sociology at the University of California, Berkeley.

DEAN R. GERSTEIN is study director at the National Research Council, National Academy of Sciences.

CONTRIBUTORS: Norma Graham, Linda Bartosik, Albert S. Bregman, Julian Hichberg, Azriel Rosenfeld, Michael Studdert-Kennedy, R. Duncan Luce, Richard Thompson, Carol Barnes, Thomas Carew, Lon Cooper, Michela Gallagher, Michael Posner, Robert Rescola, Daniel Schachter, Larry Squire, Alan Wagner, Saul Steinebers, Fergus I.M. Clark, John Jonedes, Walter Kinsch, Stephen M. Kosslyn, James L. McClelland, Raymond S. Nickerson, James Greeno, Frederick J. Newmeyer, Antonio R. Damasio, Merrill Garrett, Mark Lieberman, David Lightfoot, Howard Poizner, Thomas Roeper, Eleanor Saffran, Ivan Sag, Victoria Fromkin, Herbert Pick, Ann L. Brown, Carol Dweck, Robert Emde, Frank Keil, David Klahr, Ross S. Parke, Steven Pinker, Rochel Gelman, David S. Krantz, Leonard Epstein, Norman Garmezy, Marcha Ory, Leonard Perlin, Judith Rodin, Marvin Stein, John F. Kihlstrom, Ellen Berscheid, John Darley, Reid Hastie, Harold Kelley, Sheldon Stryker, Edward E. Jones, Nancy M,. Henley, Rose Laub Cosner, Jane Flax, Naomi Quinn, Kathryn Rish Sklar, Sherry B. Ortner, Alfred Blumstein, Richard Berk, Philip Cook, David Farrington, Samuel Krislov, Albert J. Reiss Jr., Franklin Zimring, William Riker, James S. Coleman, Bernard Grofman, Michael Hechter, John Ledyard, Charles Plott, Kenneth Shepsle, John Ferejohn,  Mark Machina, Robin Hogarth, Kenneth MacCrimmon, John Roberts, Alvin Roth, Paul Slovic, Rihard Thaler, Oliver Williamson, Jerry Hausman, Paul Joskow, Roger Noll, Vernon Smith, David Wise, Stanley Reiter, Kenneth Arrow, Lance Davis, Paul Dimaggio, Mark Granovetter, Jerry Green, Theodore Groves, Michael Hannan, Andrew Postlewaite, Roy Radner, Karl Shell, Leonid Hurwicz, Frank Stafford, Jamoes Baron, Danier Hamermesh, Christopher Jencks, Ross Stolzenberg, Donald J. Treiman, Stanley Fischer, William Beeman, Rudiger Dornbusch, Thomas Sargent, Robert Schiller, Lawrence Summers, Glynn Isaac, Robert Blumenschine, Margaret Conkey, Terry Deacon, Irven Devore, Peter Ellison, Richard Milton, David Pilbeam, Richard Potts, Kathy Schick, Margaret Schoeninger, Andrew Sillen, John Speth, Nicholas Toth, Sherwood Washburn, Douglas C. North, Robert Bates, Robert Brenner, Elizabeth Colson, Kent Flannery, Vernon Smith, Neil Smelser, Samuel Preson, Ansley Coale, Kingsley Davis, Geoffrey McNicoll, Jane Menken, T. Paul Schultz, Daniel Vining, John Modell, Margaret Clark, William Goode, William Kessen, Robert Willis, John Quigley, Alex Anas, Geoffrey Hewings, Risa Palm, James Fernandez, Keith Basso, Karen Blu, Kenneth Boulding, Stepher Gudeman, Michael Kearney, Goerge Marcus, Dennis McGilvary, Emiko Ohnuki-Tierney, William Sewell, Daniel H. Levine, Leonard Binder, Thomas Bruneau, Jean Comaroff, Susan Harding, Charles Keyes, Robert Wuthnow, Dorothy Nelkin, Charles Rosenberg, Theda Skocpol, Martin Bulmer, Thomas Joster, Donald McCloskey, Arnold Thackeray, Carol Weiss, Peter Evans, Bruce Cumings, Albert Fishlow, Peter Gourevitch, John Meyer, Alejandro Portes, Barbara Stallings, Robert Jervis, Josh Lederberg, Robert North, Steven Rosen, Dina Zinnes, Warren Miller, Martin David, James Davis, Bruce Russett, Kimball Romney, Norman Bradburn, J. Douglas Carol. Roy D'Andrade, Jean Claude Falmagne, Paul Holland, Lawrence Hubert, Edward E. Leamer, John W. Pratt, Cliffors C. Clogg, Bert F. Green, Michael Hannan, Jerry A. Hausman, William H. Kruskal, Donald B. Rubin, I. Richard Savaga, John W. Turkey, Kenneth W. Wachter, Leo A. Goodman.

"Time and Decision is astonishing in its breadth and depth of coverage. It is more than a state-of-the art survey-it actually moves the frontier of research. It will be indispensable and invaluable to anyone working on theoretical or applied issues of intertemporal choice."
-Jon Elster, Robert K. Merton Professor of Social Science, Columbia University

"The psychological study of intertemporal decisions is beginning to have a major impact on economics. This collection of exciting articles on the psychology and economics of time preferences will deepen this impact by spurring new modeling attempts and empirical research."
-Ernst Fehr, director of the Institute for Empirical Research in Economics, University of Zürich

"This remarkable collection breaks new ground by drawing on an extraordinary range of expert social and biological scientists to show how theories of choosing over time have evolved dramatically from the simple exponential discounting model. These new ideas promise to contribute to the solution of devastating social problems of addiction, savings, and self-control."
-Colin Camerer, Rea A. and Lela G. Axline Professor of Business Economics, California Institute of Technology

"A superb interdisciplinary collection on one of the most tantalizing issues that separates economists from psychologists-or did until George Loewenstein, Daniel Read, and Roy Baumeister brought some of the best among them together in this comprehensive survey of the most recent research."
-Thomas C. Schelling, Distinguished University Professor, University of Maryland

How do people decide whether to sacrifice now for a future reward or to enjoy themselves in the present? Do the future gains of putting money in a pension fund outweigh going to Hawaii for New Year's Eve? Why does a person's self-discipline one day often give way to impulsive behavior the next? Time and Decision takes up these questions with a comprehensive collection of new research on intertemporal choice, examining how people face the problem of deciding over time.

Economists approach intertemporal choice by means of a model in which people discount the value of future events at a constant rate. A vacation two years from now is worth less to most people than a vacation next week. Psychologists, on the other hand, have focused on the cognitive and emotional underpinnings of intertemporal choice. Time and Decision draws from both disciplinary approaches to provide a comprehensive picture of the various layers of choice involved.

Shane Frederick, George Loewenstein, and Ted O'Donoghue introduce the volume with an overview of the research on time discounting and focus on how people actually discount the future compared to the standard economic model. Alex Kacelnik discusses the crucial role that the ability to delay gratification must have played in evolution. Walter Mischel and colleagues review classic research showing that four year olds who are able to delay gratification subsequently grow up to perform better in college than their counterparts who chose instant gratification. The book also delves into the neurobiology of patience, examining the brain structures involved in the ability to withstand an impulse.

Turning to the issue of self-control, Klaus Wertenbroch examines the relationship between consumption and available resources, showing, for example, how a high credit limit can lead people to overspend. Ted O'Donoghue and Matthew Rabin show how people's awareness of their self-control problems affects their decision-making. The final section of the book examines intertemporal choice with regard to health, drug addiction, dieting, marketing, savings, and public policy.

All of us make important decisions every day-many of which profoundly affect the quality of our lives. Time and Decision provides a fascinating look at the complex factors involved in how and why we make our choices, so many of them short-sighted, and helps us understand more precisely this crucial human frailty.

GEORGE LOEWENSTEIN is professor of economics and psychology, Department of Social and Decision Sciences, Carnegie Mellon University.

DANIEL READ is reader in operational research, London School of Economics and Political Science.

ROY F. BAUMEISTER is the Eppes Professor of Psychology, Florida State University.

"A splendid book, addressed to an area of interest whose time is just now arriving. The people represented in the volume are a colorful lot, clearly the brightest and most active contributors to the field."
-Robert Abelson, Yale University

Many of our most urgent national problems suggest a widespread lack of concern for the future. Alarming economic conditions, such as low national savings rates, declining corporate investment in long-term capital projects, and ballooning private and public debt are matched by such social ills as diminished educational achievement, environmental degradation, and high rates of infant mortality, crime, and teenage pregnancy. At the heart of all these troubles lies an important behavioral phenomenon: in the role of consumer, manager, voter, student, or parent, many Americans choose inferior but immediate rewards over greater long-term benefits.

Choice Over Time offers a rich sampling of original research on intertemporal choice—how and why people decide between immediate and delayed consequences—from a broad range of theoretical and methodological perspectives in philosophy, political science, psychology, and economics. George Loewenstein, Jon Elster, and their distinguished colleagues review existing theories and forge new approaches to understanding significant questions: Why do people seem to "discount" future benefits? Do individuals use the same decision-making strategy in all aspects of their lives? What part is played by situational factors such as the certainty of delayed consequences? How are decisions affected by personal factors such as willpower and taste?

In addressing these issues, the contributors to Choice Over Time address many social, economic, psychological, and personal time problems. Their work demonstrates the predictive power of short-term preferences in behavior as varied as addiction and phobia, the effect of prices on consumption, and the dramatic rise in debt and decline in savings. Choice Over Time provides an essential source for the most recent research and theory on intertemporal choice, offering new models for time preference patterns—and their aberrations—and presenting a diversity of potential solutions to the problem of "temporal myopia."

GEORGE LOEWENSTEIN is professor of economics and psychology, Department of Social and Decision Sciences, Carnegie Mellon University.

JON ELSTER is Edward L. Ryerson Distinguished Service Professor of Political Science and Philosophy at the University of Chicago.

CONTRIBUTORS: George Ainslie, Gary S. Becker, Robert H. Frank, Michael Grossman, Nick Haslam, Richard J. Herrnstein, Walter Mishel, Kevin M. Murphy, Drazen Prelec, Howard Rachlin, Andres Raineri, Monica L. Rodriquez, Thomas Schelling, Hersh M. Shefrin, Yuichi Shoda, Richard H. Thaler.

"This highly authoritative study could not be more timely. At a time when many developed countries are having to strengthen their minimum wage provisions in the wake of retreating trade unionism, Low- Wage Work in the United Kingdom's use of sectoral studies greatly enriches our understanding of the causes and consequences of low pay in Britain."
-WILLIAM BROWN, Montague Burton Professor of Industrial Relations and Master of Darwin College, Cambridge University

"This excellent volume combines analysis of the general trends underlying the dramatic growth of low-wage employment in the United Kingdom with detailed case studies of industries in which such work is concentrated. Readers will gain a deeper understanding of the ways in which new government policies and declining trade union influence combined to transform British labor markets over the last three decades, leading to the expansion of low-wage work not only among women, immigrants and racial-ethnic minorities, but also among men across the demographic spectrum. The industry case studies draw on rich, original qualitative data to construct compelling on-the-ground portraits of low-wage work in a variety of settings. A final chapter includes discussion of public policy recommendations. Low-Wage Work in the United Kingdom is a provocative and much-needed analysis that should interest not only area specialists but anyone concerned about the recent proliferation of low-wage work in advanced capitalist societies on both sides of the Atlantic."
-RUTH MILKMAN, professor of sociology and director, Institute of Industrial Relations, University of California, Los Angeles

"Part of an international cross-country program of research on low-wage work, this outstanding study by leading labor economists illuminates the nature, scale, and significance of low-wage work in the United Kingdom. It demonstrates the centrality of low-wage employment to the workings of the contemporary British economy and exposes its deleterious effects on the workers that undertake it. Low-Wage Work in the United Kingdom contradicts, among other things, the pernicious myth that work is increasingly dominated by high value, high-wage knowledge-based employment. It is vital reading for all researchers and policy-makers with a stake in building a better future for our labor force."
-PETER NOLAN, Montague Burton Professor of Industrial Relations, The University of Leeds

The United Kingdom's labor market policies place it in a kind of institutional middle ground between the United States and continental Europe. Low pay grew sharply between the late 1970s and the mid-1990s, in large part due to the decline of unions and collective bargaining and the removal of protections for the low paid. The changes instituted by Tony Blair's New Labour government since 1997, including the introduction of the National Minimum Wage, halted the growth in low pay but have not reversed it. Low-Wage Work in the United Kingdom explains why the current level of low-paying work remains one of the highest in Europe. The authors argue that the failure to deal with low pay reflects a policy approach which stressed reducing poverty, but also centers on the importance of moving people off benefits and into work, even at low wages. The U.K. government has introduced a version of the U.S. welfare to work policies and continues to stress the importance of a highly flexible and competitive labor market. A central policy theme has been that education and training can empower people to both enter work and to move into better paying jobs. The case study research reveals the endemic nature of low paid work and the difficulties workers face in escaping from the bottom end of the jobs ladder. However, compared to the United States, low paid workers in the United Kingdom do benefit from in-work social security benefits, targeted predominately at those with children, and entitlements to non-pay benefits such as annual leave, maternity and sick pay, and crucially, access to state-funded health care. Low-Wage Work in the United Kingdom skillfully illustrates the way that the interactions between government policies, labor market institutions, and the economy have ensured that low pay remains a persistent problem within the United Kingdom.

CAROLINE LLOYD is a senior research fellow at the Economic and Social Research Council Centre on Skills, Knowledge, and Organizational Performance.

GEOFF MASON is senior research fellow at the National Institute of Economic and Social Research, London.

KEN MAYHEW is fellow in economics at Pembroke College, Oxford.

CONTRIBUTORS: Marilyn Carroll, Johanna Commander, Eli Dutton, Damian Grimshaw, Susan James, Dennis Nickson,  Matthew Osborne, Jonathan Payne, Robert Solow, Philip Stevens , Chris Warhurst.

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

Foreword by Nicholas Lemann

"A brilliant book that both clarifies and explains the seemingly contradictory trends of a booming economy, wage stagnation, and growing income inequality." —Thomas B. Edsall, author, The New Politics of Inequality and political reporter at The Washington Post

More than a decade ago, Frank Levy's classic Dollars and Dreams offered an incisive analysis of the dramatic changes then taking place in the American standard of living. As wage stagnation and rising income inequality in the 1970s and early 80s began to undermine Americans' traditional economic optimism, Levy's book provided the first diagnosis of what he called the quiet depression. Since then, the U.S. economy has made a dramatic comeback, but economic insecurity remains widespread. New technologies, increased immigration, and global competition have opened up a new economic playing field, one with new rules and new winners and losers. The New Dollars and Dreams explores this puzzling economic landscape, in which low unemployment goes hand in hand with sluggish wage growth and high income inequality. This completely revised and expanded version of Levy's original book offers an invaluable guide to the sweeping economic, social, and political changes that have remade life in the United States over the past twenty-five years.

Levy tells a fascinating and insightful story about what happened to American incomes and jobs. His plot resists the simple truths of everyday journalism, and explains the economic and political twists and turns that have shaped the current American economy—including the oil and food price inflations of the 1970s, the market deregulations and corporate downsizings of the 1980s, the emergence of women as sole breadwinners in many families, the migration of jobs to the suburbs, and the computerization of work. The New Dollars and Dreams illuminates the key sources of inequality, with chapters that examine the disparate employment progress of whites, minorities, men, and women, and it carefully investigates the claim that the concentration of very high incomes is the result of a winner-take-all economy. Although the growth of the service economy is often blamed for inequality, Levy locates a more fundamental cause in the rising educational and skill demands brought about by restructuring of work in all sectors of the economy. An important part of the story also involves the transformation of the American family from extended and two-parent households to those headed by single mothers and lone individuals. By making sense of these complex trends, The New Dollars and Dreams offers crucial insights into why, despite a thriving economy, many Americans no longer feel secure in their financial futures.

FRANK LEVY is Daniel Rose Professor of Urban Economics at the Massachusetts Institute of Technology.

A Volume in the RSF Census Series

How diverse can, and should, TV programming be? And especially, in what precise ways does governmental regulation of TV affect (or fail to affect) the programs station owners produce—programs which, in the final analysis, shape in such large measure the values of Americans? It is to these timely and beguiling questions that Harvey Levin addresses his dispassionate assessment of the complex relationship between government and the TV industry. Analyzing data drawn from the history of the FCC's regulatory decisions, as well as from interviews with numerous government and industry officials, Professor Levin shows how the present form of restrictive governmental regulation almost always results in higher profits and rents for TV stations, with no concomitant increase in programming diversity.

In addition, Professor Levin investigates various other aspects of the media market, from the particular kinds of crucial decisions that are made when, for example, a newspaper owns a TV station, to the kinds of problems that arise when commercial rents are taxed to fund public TV; from the brand of programming we are offered when a monopoly controls a given TV market to the nature of programming in a situation of steady and fair competition. Following a comprehensive assessment, the author makes a compelling case for diversification of station ownership, in order to be "safe rather than sorry." He also argues for the entry of new stations, more extensive support of public TV, and some form of quantitative program requirements—all of which will help bring about greater program diversity.

Professor Levin's volume provides us with a fully documented and sharply focused analysis of the theories, policies, and problems of one of the most powerful and misunderstood of contemporary institutions.

HARVEY J. LEVIN is professor of economics at Hofstra University and senior research associate at the Center for Policy Research.

Winner of the 2010 Best Book Award from the Rationality and Society Section of the American Sociological Association

"Social Commitments in a Depersonalized World does not simply restate earlier findings but proposes a highly significant theory based on much prior research by its authors which both adds to sociological competencies and provides direction for institutional design .... The theory of social commitments outlined by Lawler, Thye, and Yoon, like all fundamental notions, is obvious once it is stated but the provision of the statement in the first place requires much effort, insight, and ingenuity."
-SOCIOLOGICAL REVIEW

"Social Commitments in a Depersonalized World is one of the most important books ever< written in sociology and, indeed, the social sciences in general .... What makes this work special is that it is not yet another speculative treatise, but a very careful, micro-based analysis. At a more theoretical level, this is one of the very few works in the last half century that has addressed the issue of micro-macro linkages with a theory capable of bridging these two realms of the social universe. This is one of the most important theory books written in sociology in my forty-five years as a sociologist."
-JONATHAN TURNER, University of California, Riverside

"This important book provides a general theory of how social solidarity is created in a world of individualized and marketized transactions. The authors show how the Hobbesian problem of order is solved by emotions that tie individual to individual. Even more important for upholding larger social structure are emotional ties from individual to group that charge up meaningful categories of social identity. This kind of solidarity does not happen automatically but only in certain kinds of group structures, especially those generating contagious emotions through shared responsibility for organizational tasks. The authors provide the micro-mechanisms, which solve macro problems, thereby giving key practical advice for organizations in business and nonprofit sector alike, for social movements and even for government."
-RANDALL COLLINS, University of Pennsylvania

"Edward Lawler, Shane Thye, and Jeongkoo Yoon are to be congratulated for an original and ingenious solution to the enduring problem of cohesion in fragmented world. Their thesis is that personal interaction and the dynamics of affect are the pervasive engines in the complex journey from micro- to macro-integration. Their story is thorough, scientifically based, and compelling. I predict that the sheer power of this story will guarantee its continuing influence in the coming decades."
-NEIL J. SMELSER, University of California, Berkeley

As individuals’ ties to community organizations and the companies they work for weaken, many analysts worry that the fabric of our society is deteriorating. But others counter that new social networks, especially those forming online, create important and possibly even stronger social bonds than those of the past. In Social Commitments in a Depersonalized World, Edward Lawler, Shane Thye, and Jeongkoo Yoon examine interpersonal and group ties and propose a new theory of social commitments, showing that multiple interactions, group activities and, particularly, emotional attachment, are essential for creating and sustaining alignments between individuals and groups.

Lawler, Thye, and Yoon acknowledge that long-term social attachments have proven fragile in a volatile economy where people increasingly form transactional associations—based not on collective interest but on what will yield the most personal advantage in a society shaped by market logic. Although person-to-group bonds may have become harder to sustain, they continue to play a vital role in maintaining healthy interactions in larger social groups from companies to communities. Drawing on classical and contemporary sociology, organizational psychology, and behavioral economics, Social Commitments in a Depersonalized World shows how affiliations—particularly those that involve a profound emotional component—can transcend merely instrumental or transactional ties and can even transform these impersonal bonds into deeply personal ones.

The authors study the structures of small groups, corporations, economic transactions, and modern nation-states to determine how hierarchies, task allocation, and social identities help or hinder a group’s vitality. They find that such conditions as equal status, interdependence, and overlapping affiliations figure significantly in creating and sustaining strong person-to-group bonds. Recurring collaboration with others to achieve common goals—along with shared responsibilities and equally valued importance within an organization—promote positive and enduring feelings that enlarge a person’s experience of a group and the significance of their place within it. Employees in organizations with strong person-to-group ties experience a more unified, collective identity. They tend to work more cost effectively, meet company expectations, and better regulate their own productivity and behavior.

The authors make clear that the principles of their theory have implications beyond business. With cultures pulling apart and crashing together like tectonic plates, much depends on our ability to work collectively across racial, cultural, and political divides. The new theory in Social Commitments in a Depersonalized World provides a way of thinking about how groups form and what it takes to sustain them in the modern world.

EDWARD J. LAWLER is Martin P. Catherwood Professor of Industrial and Labor Relations and professor of sociology at Cornell Univeristy.

SHANE R. THYE is professor of sociology at the University of South Carolina.

JEONGKOO YOON is professor of business administration at the Ewha University, South Korea.

"Annette Lareau and Dalton Conley have brought together an outstanding group of scholars who have written thoughtful and original articles on conceptions of social class as applied to education, politics, health, identity, family, gender inequality, and urban life. Social Class is an important book that will become a standard reference for those interested in a more sophisticated understanding of the workings of social class in daily life."
-WILLIAM JULIUS WILSON, Harvard University

"In a time of large income inequalities and high college tuitions, it is natural to ask whether social class is becoming an increasingly important feature in American life. Social Class: How Does It Work? provides the theory, data, and range of scholarly views needed to address this question."
- FRANK LEVY, Massachusetts Institute of Technology

"For years to come, Social Class will feed an as of yet too infrequent dialogue between experts who draw on qualitative and quantitative data to advance the study of inequality. In their frontier research, contributors develop an empirically-based definition of class, study new manifestations of class inequality, analyze how it intersects racial and gender inequality, specify mechanisms of class reproduction, and definitely put to rest the view that class does not matter. In doing so, this first-rate collection moves us toward a more integrated under- standing of the cultural and structural determinants and manifestations of inequality."
-MICHÈLE LAMONT, Harvard University

Class differences permeate the neighborhoods, classrooms, and workplaces where we lead our daily lives. But little is known about how class really works, and its importance is often downplayed or denied. In this important new volume, leading sociologists systematically examine how social class operates in the United States today. Social Class argues against the view that we are becoming a classless society. The authors show instead the decisive ways social class matters—from how long people live, to how they raise their children, to how they vote.

The distinguished contributors to Social Class examine how class works in a variety of domains including politics, health, education, gender, and the family. Michael Hout shows that class membership remains an integral part of identity in the U.S.—in two large national surveys, over 97 percent of Americans, when prompted, identify themselves with a particular class. Dalton Conley identifies an intangible but crucial source of class difference that he calls the “opportunity horizon”—children form aspirations based on what they have seen is possible. The best predictor of earning a college degree isn’t race, income, or even parental occupation—it is, rather, the level of education that one’s parents achieved. Annette Lareau and Elliot Weininger find that parental involvement in the college application process, which significantly contributes to student success, is overwhelmingly a middle-class phenomenon. David Grusky and Kim Weeden introduce a new model for measuring inequality that allows researchers to assess not just the extent of inequality, but also whether it is taking on a more polarized, class-based form. John Goldthorpe and Michelle Jackson examine the academic careers of students in three social classes and find that poorly performing students from high-status families do much better in many instances than talented students from less-advantaged families. Erik Olin Wright critically assesses the emphasis on individual life chances in many studies of class and calls for a more structural conception of class. In an epilogue, journalists Ray Suarez, Janny Scott, and Roger Hodge reflect on the media’s failure to report hardening class lines in the United States, even when images on the nightly news—such as those involving health, crime, or immigration—are profoundly shaped by issues of class.

Until now, class scholarship has been highly specialized, with researchers working on only one part of a larger puzzle. Social Class gathers the most current research in one volume, and persuasively illustrates that class remains a powerful force in American society.

ANNETTE LAREAU is professor of sociology at University of Maryland, College Park.

DALTON CONLEY is University Professor at New York University.

CONTRIBUTORS:  Clem Brooks, Richard M. Carpiano, John Goldthorpe, David B. Grusky,  Angel L. Harris, Roger D. Hodge,  Michael Hout,  Michelle Jackson,  Kathryn Lacy, Bruce G. Link,  Jeff Manza,  Leslie McCall,  Mary Pattillo,  Jo C. Phelan,  Janny Scott,  Ray Suarez,  Kim A. Weeden, Elliot B. Weininger, Erik Olin Wright.

"Two of America's most distinguished economists have brought together a stellar group of experts to analyze a remarkable decade. Such a confluence of superlatives should lead to an outstanding book, and indeed it has. In the 1990s the job machine ran full blast. What happened to wages, productivity, and inequality? And what can we expect in the years to come? This superb book will be the standard reference on these questions and will guide the thinking of professional economists and policy makers alike."
-PAUL OSTERMAN, MASSACHUSETTS INSTITUTE OF TECHNOLOGY

"What enabled the United States to combine high employment and low inflation during the second half of the 1990s? Can we hope to repeat this success during future economic expansions? The Roaring Nineties brings together many of our country's finest economists to explore these questions. Their essays are uniformly instructive, and both their shared conclusions and their disagreements add precision to the questions that future research must address. Neither academic economists nor policy makers can afford to ignore this state-of-the-art collection."
-WILLIAM A. GALSTON, UNIVERSITY OF MARYLAND

"Is there an inflation-safe unemployment rate? This question matters for our nation's economic health. The Roaring Nineties convinces us that even where science does not have definitive answers, it has the power to deepen public discourse by sweeping away misleading clichés, guesses, and political spin."
-KENNETH PREWITT, NEW SCHOOL UNIVERSITY

The positive social benefits of low unemployment are many—it helps to reduce poverty and crime and fosters more stable families and communities. Yet conventional wisdom—born of the stagflation of the 1970s—holds that sustained low unemployment rates run the risk of triggering inflation. The last five years of the 1990s—in which unemployment plummeted and inflation remained low—called this conventional wisdom into question. The Roaring Nineties provides a thorough review of the exceptional economic performance of the late 1990s and asks whether it was due to a lucky combination of economic circumstances or whether the new economy has somehow wrought a lasting change in the inflation-safe rate of unemployment.

Led by distinguished economists Alan Krueger and Robert Solow, a roster of twenty-six respected economic experts analyzes the micro- and macroeconomic factors that led to the unexpected coupling of low unemployment and low inflation. The more macroeconomically oriented chapters clearly point to a reduction in the inflation-safe rate of unemployment. Laurence Ball and Robert Moffitt see the slow adjustment of workers' wage aspirations in the wake of rising productivity as a key factor in keeping inflation at bay. And Alan Blinder and Janet Yellen credit sound monetary policy by the Federal Reserve Board with making the best of fortunate circumstances, such as lower energy costs, a strong dollar, and a booming stock market.

Other chapters in The Roaring Nineties examine how the interaction between macroeconomic and labor market conditions helped sustain high employment growth and low inflation. Giuseppe Bertola, Francine Blau, and Lawrence M. Kahn demonstrate how greater flexibility in the U.S. labor market generated more jobs in this country than in Europe, but at the expense of greater earnings inequality. David Ellwood examines the burgeoning shortage of skilled workers, and suggests policies—such as tax credits for businesses that provide on-the-job-training—to address the problem. And James Hines, Hilary Hoynes, and Alan Krueger elaborate the benefits of sustained low unemployment, including budget surpluses that can finance public infrastructure and social welfare benefits—a perspective often lost in the concern over higher inflation rates.

While none of these analyses promise that the good times of the 1990s will last forever, The Roaring Nineties provides a unique analysis of recent economic history, demonstrating how the nation capitalized on a lucky confluence of economic factors, helping to create the longest peacetime boom in American history.

ROBERT SOLOW is Institute Professor Emeritus, M.I.T., and a Nobel laureate in economics.

ALAN KRUEGER is professor of economics at Princeton University.

CONTRIBUTORS: Katharine G. Abraham, Laurence Ball, Giusepe Bertola, Rebecca M. Blank,  Francine D. Blau,  Alan S. Blinder,  Jessica Cohen,  William T. Dickens,  David T. Ellwood,  James R. Hines Jr., Hilary W. Hoynes,  George Johnson,  Lawrence M. Kahn,  Lisa M. Lynch, Robert Moffitt, Stephen J. Nickell,  Adam Posen,  Matthew D. Shapiro,  Robert Shimer,  Matthew J. Slaughter,  Douglas Staiger,  James H. Stock, Janet L. Yellen, Mark W. Watson.

Copublished with The Century Foundation