The strike against the World Trade Center on September 11, 2001, was a violent blow against the United States and a symbolic attack on capitalism and commerce. It shut down one of the world’s busiest commercial centers for weeks, destroyed or damaged billions of dollars worth of property, and forced many New York City employers to slash their payrolls or move jobs to other areas. The immediate economic effect was substantial, but how badly did 9/11 affect New York City’s economy in the longer term? In Resilient City, Howard Chernick and a team of economic experts examine the city’s economic recovery in the three years following the destruction of the Twin Towers.

Assessing multiple facets of the New York City economy in the years after 9/11, Resilient City discerns many hopeful signs among persistent troubles. Analysis by economist Sanders Korenman indicates that the value of New York–based companies did not fall relative to other firms, indicating that investors still believe that there are business advantages to operating in New York despite higher rates of terrorism insurance and concerns about future attacks. Cordelia Reimers separates the economic effect of 9/11 from the effects of the 2001 recession by comparing employment and wage trends for disadvantaged workers in New York with those in five major U.S. cities. She finds that New Yorkers fared at least as well as people in other cities, suggesting that the decline in earnings and employment for low-income New York workers in 2002 was due more to the recession than to the effects of 9/11. Still, troubles remain for New York City. Howard Chernick considers the substantial fiscal implications of the terrorist attacks on New York City, estimating that the attack cost the city about $3 billion in the first two years alone; a sum that the city now must make up through large tax increases, spending cuts, and substantial additional borrowing, which will inevitably be a burden on future budgets.

The terrorist attacks of September 11 dealt a severe blow to the economy of New York City, but it was far from a knock-out punch. Resilient City shows that New York’s dynamic, flexible economy has absorbed the hardships inflicted by the attacks, and provides a thorough, authoritative assessment of what, so far, has been a strong recovery.

HOWARD CHERNICK is professor of economics at Hunter College of the City University of New York.

CONTRIBUTORS:  Joshua Chang,  Oliver D. Cooke,  Franz Fuerst,  Andrew F. Haughwout,  Edward W. Hill,  Sanders Korenman,  Iryna Lendel,  James A. Parrott,  Cordelia W. Reimers,  Jonathan A. Schwabish. 

A September 11 Initiative Volume

Semi-Finalist for the Robert F. Kennedy Memorial Book Award

"Putting Children First is must reading for anyone making decisions that affect low-income mothers as they struggle to balance work and family responsibilities-in fact, for anyone who cares about the future of children. Ajay Chaudry makes crystal clear the pitfalls of making social policy from an altitude of 50,000 feet. Knowing the facts on the ground is the first step to a sensible child-care system. We have a long way to go, but this book is a great step in the right direction."
-PETER B. EDELMAN, Professor of Law, Georgetown University Law Center

"Ajay Chaudry's Putting Children First is the most insightful and poignant study of the child-care problems of poor single mothers in urban areas that I have read. This book should be required reading not only for students of urban poverty, but also for national policy makers of welfare reform who have yet to address many of the unique challenges of single motherhood in low-income urban neighborhoods."
-WILLIAM JULIUS WILSON, Lewis P. and Linda L. Geyser University Professor, Harvard University

"An honest, poignant ethnography, Putting Children First provides an extraordinary window into the child care worries of poorly paid working mothers who find that good care for their children is unaffordable and scarce. Ajay Chaudry reminds us what it costs to drop the best interests of children from our national policy agenda. Sharp, focused, and wise."
-CAROL STACK, Professor of Social and Cultural Studies in Education, University of California, Berkeley

"Ajay Chaudry skillfully takes us into the reality of the child care struggles of low-income working parents, and the picture is both disturbing and illuminating. The findings will almost certainly alter the reader's thinking about the dilemmas mothers and policy makers face and the strategies for doing better. If one cares about welfare reform, or low-income workers, or most importantly the future of our children, this book is important reading."
-DAVID T. ELLWOOD, Dean and Scott M. Black Professor of Political Economy, John F. Kennedy School of Government, Harvard University

In the five years following the passage of federal welfare reform law, the labor force participation of low-income, single mothers with young children climbed by more than 25 percent. With significantly more hours spent outside the home, single working mothers face a serious childcare crunch—how can they provide quality care for their children? In Putting Children First, Ajay Chaudry follows forty-two low-income families in New York City over three years to illuminate the plight of these mothers and the ways in which they respond to the difficult challenge of providing for their children’s material and developmental needs with limited resources.

Using the words of the women themselves, Chaudry tells a startling story. Scarce subsidies, complicated bureaucracies, inflexible work schedules, and limited choices force families to piece together care arrangements that are often unstable, unreliable, inconvenient, and of limited quality. Because their wages are so low, these women are forced to rely on inexpensive caregivers who are often under-qualified to serve the developmental needs of their children. Even when these mothers find good, affordable care, it rarely lasts long because their volatile employment situations throw their needs into constant flux. The average woman in Chaudry’s sample had to find five different primary caregivers in her child’s first four years, while over a quarter of them needed seven or more in that time.

This book lets single, low-income mothers describe the childcare arrangements they desire and the ways that options available to them fail to meet even their most basic needs. As Chaudry tracks these women through erratic childcare spells, he reveals the strategies they employ, the tremendous costs they incur and the anxiety they face when trying to ensure that their children are given proper care.

Honest, powerful, and alarming, Putting Children First gives a fresh perspective on work and family for the disadvantaged. It infuses a human voice into the ongoing debate about the effectiveness of welfare reform, showing the flaws of a social policy based solely on personal responsibility without concurrent societal responsibility, and suggesting a better path for the future.

AJAY CHAUDRY is a writer on social policy issues and a faculty and senior research fellow in urban policy and management at New School University.

The role of women in higher education, as in many other settings, has undergone dramatic changes during the past two decades. This significant period of progress and transition is definitively assessed in the landmark volume, Women in Academe.

Crowded out by returning veterans and pressed by social expectations to marry early and raise children, women in the 1940s and 1950s lost many of the educational gains they had made in previous decades. In the 1960s women began to catch up, and by the 1970s women were taking rapid strides in academic life. As documented in this comprehensive study, the combined impact of the women’s movement and increased legislative attention to issues of equality enabled women to make significant advances as students and, to a lesser extent, in teaching and academic administration. Women in Academe traces the phenomenal growth of women’s studies programs, the notable gains of women in non-traditional fields, the emergence of campus women’s centers and research institutes, and the increasing presence of minority and re-entry women. Also examined are the uncertain future of women’s colleges and the disappointingly slow movement of women into faculty and administrative positions.

This authoritative volume provides more current and extensive data on its subject than any other study now available. Clearly and objectively, it tells an impressive story of progress achieved—and of important work still to be done.

MARIAM K. CHAMBERLAIN is founding president of the National Council for Research on Women.

CONTRIBUTORS: Helen S. Astin,  Jean W. Campbell, Mary Ellen S. Capek,  Maren Lockwood Carden,  Mariam K. Chamberlain,  Carol Frances,  Jane Gould,  Lilli S. Hornig,  Florence Howe,  Marjorie Lightman,  Virginia Davis Nordin,  Patricia Ann Palmieri, Bernice R. Sandler,  Cynthia Secor,  Donna Shavlik,  Margaret C. Simms.

"Cogently argued, fills an important gap in the literature, and is accessible to undergraduates." —Choice

"Dismantles the mythology surrounding pawnshops and check-cashing outlets, and demonstrates that they are no longer on the fringe of our financial system but integral to it."—San Francisco Bay Guardian

In today's world of electronic cash transfers, automated teller machines, and credit cards, the image of the musty, junk-laden pawnshop seems a relic of the past. But it is not. The 1980s witnessed a tremendous boom in pawnbroking. There are now more pawnshops thanever before in U.S. history, and they are found not only in large cities but in towns and suburbs throughout the nation. As John Caskey demonstrates in Fringe Banking, the increased public patronage of both pawnshops and commercial check-cashing outlets signals the growing number of American households now living on a cash-only basis, with no connection to any mainstream credit facilities or banking services.

Fringe Banking is the first comprehensive study of pawnshops and check-cashing outlets, profiling their operations, customers, and recent growth from family-owned shops to such successful outlet chains as Cash American and ACE America's Cash Express. It explains why, despite interest rates and fees substantially higher than those of banks, their use has so dramatically increased. According to Caskey, declining family earnings, changing family structures, a growing immigrant population, and lack of household budgeting skills has greatly reduced the demand for bank deposit services among millions of Americans. In addition, banks responded to 1980s regulatory changes by increasing fees on deposit accounts with small balances and closing branches in many poor urban areas.

These factors combined to leave many low- and moderate-income families without access to checking privileges, credit services, and bank loans. Pawnshops and check-cashing outlets provide such families with essential financial services thay cannot obtain elsewhere. Caskey notes that fringe banks, particularly check-cashing outlets, are also utilized by families who could participate in the formal banking system, but are willing to pay more for convenience and quick access to cash. Caskey argues that, contrary to their historical reputation as predators milking the poor and desperate, pawnshops and check-cashing outlets play a key financial role for disadvantaged groups. Citing the inconsistent and often unenforced state laws currently governing the industry, Fringe Banking challenges policy makers to design regulations that will allow fringe banks to remain profitable without exploiting the customers who depend on them.

JOHN P. CASKEY is associate professor of economics at Swarthmore College.

"This book, which is based on solid research by an all-star cast of experts, provides important and timely findings about current welfare issues, some of which are remarkable. The bottom line for the editors of this valuable book is that the country is on the right track, but staying the course will be a challenge in the years ahead."
-Richard P. Nathan, The Rockefeller Institute of Government, SUNY

"This is an indispensable, comprehensive study of the problems and prospects of low-skilled workers, especially welfare recipients who have been entering the labor market in vast numbers. Impressive for the breadth of its research and the depth of its analyses, the book will be a major resource for policymakers, administrators, and researchers-anyone seeking to redesign programs and policies for the working poor."
-Judith M. Gueron, Manpower Demonstration Research Corporation

"In a field replete with puzzles, this collection of new empirical research confirms some past knowledge and it solves some old mysteries. But it deepens other mysteries and contains some striking new data. Finding Jobs reminds us that the most powerful assistance program for low-skilled workers is a strong economy. It removes any remaining doubt about whether wage subsidies, public service employment, and financial incentives in general can raise employment and earnings of low skill workers-they can."
-Henry J. Aaron, The Brookings Institution

Do plummeting welfare caseloads and rising employment prove that welfare reform policies have succeeded, or is this success due primarily to the job explosion created by today's robust economy? With roughly one to two million people expected to leave welfare in the coming decades, uncertainty about their long-term prospects troubles many social scientists. Finding Jobs offers a thorough examination of the low-skill labor market and its capacity to sustain this rising tide of workers, many of whom are single mothers with limited education. Each chapter examines specific trends in the labor market to ask such questions as: How secure are these low-skill jobs, particularly in the event of a recession? What can these workers expect in terms of wage growth and career advancement opportunities? How will a surge in the workforce affect opportunities for those already employed in low-skill jobs?

Finding Jobs offers both good and bad news about work and welfare reform. Although the research presented in this book demonstrates that it is possible to find jobs for people who have traditionally relied on public assistance, it also offers cautionary evidence that today's strong economy may mask enduring underlying problems. Finding Jobs shows that the low-wage labor market is particularly vulnerable to economic downswings and that lower skilled workers enjoy less job stability. Several chapters illustrate why financial incentives, such as the Earned Income Tax Credit (EITC), are as essential to encouraging workforce participation as job search programs. Other chapters show the importance of including provisions for health insurance, and of increasing subsidies for child care to assist the large population of working single mothers affected by welfare reform.

Finding Jobs also examines the potential costs of new welfare restrictions. It looks at how states can improve their flexibility in imposing time limits on families receiving welfare, and calls into question the cutbacks in eligibility for immigrants, who traditionally have relied less on public assistance than their native-born counterparts.

Finding Jobs is an informative and wide-ranging inquiry into the issues raised by welfare reform. Based on comprehensive new data, this volume offers valuable guidance to policymakers looking to design policies that will increase work, raise incomes, and lower poverty in changing economic conditions.

REBECCA M. BLANK is dean of the Gerald R. Ford School of Public Policy and Henry Carter Adams Collegiate Professor of Public Policy at the University of Michigan. She is also research associate of the National Bureau of Economic Research.

DAVID E. CARD is Class of 1950 Professor of Economics and head of the Center for Labor Economics at the University of California, Berkeley. He is also research associate of the National Bureau of Economic Research.

CONTRIBUTORS: Patricia Anderson, Timothy Bartik, Kristin Butcher, Janet Currie, Stacy Dickert-Conlin, David T. Ellwood, Tricia Gladden, Douglas Holtz-Eakin, Harry J. Holzer, Hilary Hoynes, Luojia Hu, Robert J. LaLonde, Phillip B. Levine, Susan E. Mayer, Robert A. Moffitt, LaDonna A. Pavetti, Philip K. Robins, Christopher Taber, Jane Waldfogel, Elisabeth D. Welty, Aaron Yelowitz