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Cover image of the book Rethinking the Financial Crisis
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Rethinking the Financial Crisis

Editors
Alan S. Blinder
Andrew W. Lo
Robert M. Solow
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$59.95
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6 in. × 9 in. 374 pages
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978-0-87154-810-8
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“This is an extremely interesting book. By now, many of us think we are already familiar with the basic causes of the financial crisis, but Rethinking the Financial Crisis will change our thinking. It is backed by a broad array of carefully researched facts and theoretical structure.”
—ROBERT J. SHILLER , Arthur M. Okun Professor of Economics, Yale University

“As well as its consequences for the economy, the financial crisis has left an indelible mark on the way that economists approach their subject. Our understanding of the crisis is still evolving, but this thought-provoking book provides a welcome opportunity to take stock of how far we have come. The chapters—all written by the leaders in their field— provide a sweeping overview, from the origins of the crisis to its consequences for the economy and the wider lessons to be learned in order not to repeat past mistakes. Rethinking the Financial Crisis is required reading for those who wish to keep up to date on the journey that economics and economists are taking in the wake of the crisis.”
—HYUN SONG SHIN, Hughes-Rogers Professor of Economics, Princeton University

Some economic events are so major and unsettling that they “change everything.” Such is the case with the financial crisis that started in the summer of 2007 and is still a drag on the world economy. Yet enough time has now elapsed for economists to consider questions that run deeper than the usual focus on the immediate causes and consequences of the crisis. How have these stunning events changed our thinking about the role of the financial system in the economy, about the costs and benefits of financial innovation, about the efficiency of financial markets, and about the role the government should play in regulating finance? In Rethinking the Financial Crisis, some of the nation’s most renowned economists share their assessments of particular aspects of the crisis and reconsider the way we think about the financial system and its role in the economy.

In its wide-ranging inquiry into the financial crash, Rethinking the Financial Crisis marshals an impressive collection of rigorous and yet empirically-relevant research that, in some respects, upsets the conventional wisdom about the crisis and also opens up new areas for exploration. Two separate chapters–by Burton G. Malkiel and by Hersh Shefrin and Meir Statman – debate whether the facts of the financial crisis upend the efficient market hypothesis and require a more behavioral account of financial market performance. To build a better bridge between the study of finance and the “real” economy of production and employment, Simon Gilchrist and Egan Zakrasjek take an innovative measure of financial stress and embed it in a model of the U.S. economy to assess how disruptions in financial markets affect economic activity—and how the Federal Reserve might do monetary policy better. The volume also examines the crucial role of financial innovation in the evolution of the pre-crash financial system. Thomas Philippon documents the huge increase in the size of the financial services industry relative to real GDP, and also the increasing cost per financial transaction. He suggests that the finance industry of 1900 was just as able to produce loans, bonds, and stocks as its modern counterpart—and it did so more cheaply. Robert Jarrow looks in detail at some of the major types of exotic securities developed by financial engineers, such as collateralized debt obligations and credit-default swaps, reaching judgments on which make the real economy more efficient and which do not. The volume’s final section turns explicitly to regulatory matters. Robert Litan discusses the political economy of financial regulation before and after the crisis. He reviews the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which he considers an imperfect but useful response to a major breakdown in market and regulatory discipline.

At a time when the financial sector continues to be a source of considerable controversy, Rethinking the Financial Crisis addresses important questions about the complex workings of American finance and shows how the study of economics needs to change to deepen our understanding of the indispensable but risky role that the financial system plays in modern economies.

ALAN S. BLINDER is the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University.

ANDREW W. LO is Charles E. and Susan T. Harris Professor at M.I.T.

ROBERT M. SOLOW is Institute Professor, Emeritus, at M.I.T.

CONTRIBUTORS:  Ben S. Bernanke,  Patrick Bolton,  J. Bradford DeLong,  Christopher L. Foote,  Kristopher S. Gerardi, Simon G. Gilchrist,  John Hull,  Robert A. Jarrow,  Robert E. Litan,  Burton G. Malkiel,  Kevin J. Murphy,  Thomas Philippon,  Tano Santon,  Jose A. Scheinkman, Hersh Shefrin,  Meir Statman,  Alan White,  Paul S. Willen,  Egon Zakrajsek. 

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Cover image of the book Coping with Crisis
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Coping with Crisis

Government Reactions to the Great Recession
Editors
Nancy Bermeo
Jonas Pontusson
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$52.50
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6 in. × 9 in. 430 pages
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978-0-87154-076-8
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Winner of a RIPE Read Award from the Review of International Political Economy

“This important book provides insight into understanding the different ways countries are dealing with the economic crisis of our period and will thus be extremely valuable to all specialists of international and comparative political economy.”
—Peter Gourevitch, University of California, San Diego

“Coping with Crisis speaks to the crucial mysteries of life after the global economic crisis, and to the widespread confusion about what governments should and can do to rescue us from the current malaise. An impressive group of scholars reflects on policymakers’ capacities for action, the relative weight of international imperatives and domestic power balances in delimiting policy solutions, the lessons of past major downturns in charting a path for current recovery, and the capacities of states to forge a new democratic consensus. This elegantly argued, wonderfully perceptive book addresses a central fear of the twenty-first century: that the new global order is unhinged from mechanisms of democratic or even elite-expert control.”
—Cathie Jo Martin, Boston University

The financial crisis that erupted on Wall Street in 2008 quickly cascaded throughout much of the advanced industrial world. Facing the specter of another Great Depression, policymakers across the globe responded in sharply different ways to avert an economic collapse. Why did the response to the crisis—and its impact on individual countries—vary so greatly among interdependent economies? How did political factors like public opinion and domestic interest groups shape policymaking in this moment of economic distress? Coping with Crisis offers a rigorous analysis of the choices societies made as a devastating global economic crisis unfolded.

With an ambitiously broad range of inquiry, Coping with Crisis examines the interaction between international and domestic politics to shed new light on the inner workings of democratic politics. The volume opens with an engaging overview of the global crisis and the role played by international bodies like the G-20 and the WTO. In his survey of international initiatives in response to the recession, Eric Helleiner emphasizes the limits of multilateral crisis management, finding that domestic pressures were more important in reorienting fiscal policy. He also argues that unilateral decisions by national governments to hold large dollar reserves played the key role in preventing a dollar crisis, which would have considerably worsened the downturn. David R. Cameron discusses the fiscal responses of the European Union and its member states. He suggests that a profound coordination problem involving fiscal and economic policy impeded the European Union's ability to respond in a timely and effective manner. The volume also features several case studies and country comparisons. Nolan McCarty assesses the performance of the American political system during the crisis. He argues that the downturn did little to dampen elite polarization in the United States; divisions within the Democratic Party—as well as the influence of the financial sector—narrowed the range of policy options available to fight the crisis. Ben W. Ansell examines how fluctuations in housing prices in thirty developed countries affected the policy preferences of both citizens and political parties. His evidence shows that as housing prices increased, homeowners expressed preferences for both lower taxes and a smaller safety net. As more citizens supplement their day-to-day income with assets like stocks and housing, Ansell's research reveals a potentially significant trend in the formation of public opinion.

Five years on, the prospects for a prolonged slump in economic activity remain high, and the policy choices going forward are contentious. But the policy changes made between 2007 and 2010 will likely constrain any new initiatives in the future. Coping with Crisis offers unmatched analysis of the decisions made in the developed world during this critical period. It is an essential read for scholars of comparative politics and anyone interested in a comprehensive account of the new international politics of austerity.

NANCY BERMEO is the Nuffield Professor of comparative politics at Oxford University, Oxford, U.K.

JONAS PONTUSSON is professor of comparative politics at the University of Geneva, Switzerland.

CONTRIBUTORS: Ben W. Ansell, Klaus Armingeon, Lucio Baccaro, Lucy Barnes, David R. Cameron, Eric Helleiner, Torben Iversen, Johannes Lindvall, Nolan McCarty, David Rueda, Waltraud Schelkle, David Soskice, Yves Tiberghien, Anne Wren.

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Cover image of the book The Biological Consequences of Socioeconomic Inequalities
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The Biological Consequences of Socioeconomic Inequalities

Editors
Barbara Wolfe
William N. Evans
Teresa E. Seeman
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$52.50
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6 in. × 9 in. 292 pages
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978-0-87154-892-4
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“The Biological Consequences of Socioeconomic Inequalities is a very timely book by an interdisciplinary group of experts that presents compelling new information about the neurobiological and systemic health consequences of socioeconomic inequalities, and it discusses some encouraging approaches for intervention using biomarkers for assessment. The emphasis on biomarkers is particularly important for demonstrating how the social environment of inequality ‘gets under the skin’ and presents both a challenge and an opportunity for this important field.”
—Bruce S. McEwen, The Rockefeller University

“The usual paradigm is to consider that socioeconomic status, environmental and genetic factors all affect a person’s health, but this book broadens that paradigm by examining also how socioeconomic and environmental factors directly affect the expression of genes and specific biological processes that themselves affect health and disease. In short, while others have shown that income affects health and health affects income, The Biological Consequences of Socioeconomic Inequalities examines the mechanisms through which income affects biological processes that affect health and cognition. This interdisciplinary book provides essential reading for researchers in the social and biological sciences interested in the income-health gradient, lays a useful foundation for the new field of individually customized medicine, and improves our understanding of how behaviors, stress, and cognitive-emotional processes lead to variation in biological functioning and disease.”
—Randall P. Ellis, Boston University, and past president, American Society of Health Economist

Social scientists have repeatedly uncovered a disturbing feature of economic inequality: people with larger incomes and better education tend to lead longer, healthier lives. This pattern holds across all ages and for virtually all measures of health, apparently indicating a biological dimension of inequality. But scholars have only begun to understand the complex mechanisms that drive this disparity. How exactly do financial well-being and human physiology interact? The Biological Consequences of Socioeconomic Inequalities incorporates insights from the social and biological sciences to quantify the biology of disadvantage and to assess how poverty gets under the skin to impact health.

Drawing from unusually rich datasets of biomarkers, brain scans, and socioeconomic measures, Biological Consequences of Socioeconomic Inequalities illustrates exciting new paths to understanding social inequalities in health. Barbara Wolfe, William N. Evans and Nancy Adler begin the volume with a critical evaluation of the literature on income and health, providing a lucid review of the difficulties of establishing clear causal pathways between the two variables. In their chapter, Arun S. Karlamangla, Tara L. Gruenewald, and Teresa E. Seeman outline the potential of biomarkers—such as cholesterol, heart pressure, and C-reactive protein—to assess and indicate the factors underlying health. Edith Chen, Hannah M. C. Schreier, and Meanne Chan reveal the empirical power of biomarkers by examining asthma, a condition steeply correlated with socioeconomic status. Their analysis shows how stress at the individual, family, and neighborhood levels can increase the incidence of asthma. The volume then turns to cognitive neuroscience, using biomarkers in a new way to examine the impact of poverty on brain development. Jamie Hanson, Nicole Hair, Amitabh Chandra, Ed Moss, Jay Bhattacharya, Seth D. Pollack, and Barbara Wolfe use a longitudinal Magnetic Resonance Imaging (MRI) study of children between the ages of four and eighteen to study the link between poverty and limited cognition among children. Michelle C. Carlson, Christopher L. Seplaki, and Teresa E. Seeman also focus on brain development to examine the role of socioeconomic status in cognitive decline among older adults.

Featuring insights from the biological and social sciences, Biological Consequences of Socioeconomic Inequalities will be an essential resource for scholars interested in socioeconomic disparities and the biological imprint that material deprivation leaves on the human body.

BARBARA WOLFE is professor of public affairs, economics, and population health sciences at the University of Wisconsin-Madison.

WILLIAM N. EVANS is Keough-Hesburge Professor of Economics in the Department of Economics at the University of Notre Dame.

TERESA E. SEEMAN is professor of medicine and epidemiology in the school of public health at the University of California, Los Angeles.

CONTRIBUTORS: Nancy Adler, Jay Bhattacharya, Michelle C. Carlson, Meanne Chan, Amitabh Chandra, Edith Chen, William H. Dow, William Evans, Elliot Friedman, Tara L. Gruenewald, Daniel A. Hackman, Nicole Hair, Jamie Hanson, Arun S. Karlamangla, Catarine Kiefe, Ed Moss, Seth D. Pollak, David H. Rehkopf, Hannah M. C. Schreier, Teresa E. Seeman, Christopher L. Seplaki, Barbara Wolfe

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Cover image of the book The American Non-Dilemma
Books

The American Non-Dilemma

Racial Inequality Without Racism
Author
Nancy DiTomaso
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$52.50
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6 in. × 9 in. 430 pages
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978-0-87154-080-5
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Winner of the 2013 C. Wright Mills Award from the Society for the Study of Social Problems

Winner of the 2014 Book Award from the Inequality, Poverty, and Mobility Section of the American Sociological Association

Runner Up, 2014 Academy of Management's George R. Terry Book Award

“Nancy DiTomaso seriously challenges the framing of racial issues in the United States. Informed by interviews with non-Hispanic whites from three areas of the country, she not only convincingly reveals how racial inequality can be maintained and perpetuated without racism, but also how most whites absolve themselves of guilt feelings about race. The American Non-Dilemma is replete with new insights on a historic domestic problem.”
—WILLIAM JULIUS WILSON, Harvard University

“Scholars in the humanities are expert at analyzing absences—the pause in the music’s beat, the white space in the painting, the protagonist’s missing child in the novel. But social scientists are generally very poor at analyzing nonevents. In The American Non-
Dilemma, Nancy DiTomaso expertly reveals what Americans do not say, because of what they do not see. Whites’ inability to perceive the benefits of racial privilege, even in the context of economic struggles, helps us to understand how racial hierarchy persists in a nation committed to equal opportunity.”
—JENNIFER HOCHSCHILD, Harvard University

The Civil Rights movement of the 1960s seemed to mark a historical turning point in advancing the American dream of equal opportunity for all citizens, regardless of race. Yet 50 years on, racial inequality remains a troubling fact of life in American society and its causes are highly contested. In The American Non-Dilemma, sociologist Nancy DiTomaso convincingly argues that America's enduring racial divide is sustained more by whites' preferential treatment of members of their own social networks than by overt racial discrimination. Drawing on research from sociology, political science, history, and psychology, as well as her own interviews with a cross-section of non-Hispanic whites, DiTomaso provides a comprehensive examination of the persistence of racial inequality in the post-Civil Rights era and how it plays out in today's economic and political context.

Taking Gunnar Myrdal's classic work on America's racial divide, The American Dilemma, as her departure point, DiTomaso focuses on "the white side of the race line." To do so, she interviewed a sample of working, middle, and upper-class whites about their life histories, political views, and general outlook on racial inequality in America. While the vast majority of whites profess strong support for civil rights and equal opportunity regardless of race, they continue to pursue their own group-based advantage, especially in the labor market where whites tend to favor other whites in securing jobs protected from market competition. This "opportunity hoarding" leads to substantially improved life outcomes for whites due to their greater access to social resources from family, schools, churches, and other institutions with which they are engaged.

DiTomaso also examines how whites understand the persistence of racial inequality in a society where whites are, on average, the advantaged racial group. Most whites see themselves as part of the solution rather than part of the problem with regard to racial inequality. Yet they continue to harbor strong reservations about public policies—such as affirmative action—intended to ameliorate racial inequality. In effect, they accept the principles of civil rights but not the implementation of policies that would bring about greater racial equality. DiTomaso shows that the political engagement of different groups of whites is affected by their views of how civil rights policies impact their ability to provide advantages to family and friends. This tension between civil and labor rights is evident in Republicans' use of anti-civil rights platforms to attract white voters, and in the efforts of Democrats to bridge race and class issues, or civil and labor rights broadly defined. As a result, DiTomaso finds that whites are, at best, uncertain allies in the fight for racial equality.

Weaving together research on both race and class, along with the life experiences of DiTomaso's interview subjects, The American Non-Dilemma provides a compelling exploration of how racial inequality is reproduced in today's society, how people come to terms with the issue in their day-to-day experiences, and what these trends may signify in the contemporary political landscape.

NANCY DITOMASO is professor of organization management at Rutgers University.

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Cover image of the book Documenting Desegregation
Books

Documenting Desegregation

Racial and Gender Segregation in Private-Sector Employment Since the Civil Rights Act
Authors
Kevin Stainback
Donald Tomaskovic-Devey
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$55.00
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6 in. × 9 in. 412 pages
ISBN
978-0-87154-834-4
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“Documenting Desegregation uses remarkable data to chart the history of workplace integration since 1966, showing where, when, and hence why firms changed. The lessons are many: black men’s gains stalled when Reagan took the White House; white women saw progress until the new millennium; affirmative action played a positive role. This meticulously researched, compelling book provides not only a much needed history of the revolution in the labor market, but important lessons for how the United States can continue to pursue equality of opportunity.”
—Frank Dobbin, Harvard University

“With comprehensive data on private-sector employers, this book reveals the changing narratives of inequality by race and gender in American society from the passage of the Civil Rights Act of 1964 through 2005. The Civil Rights Act ended hypersegregation by race and sex, but employment progress for African American men and women has largely stalled since 1980. White women have continued to see gains over the period, but the employment advantages of white men have persisted and taken on new forms in the modern workplace. The sweeping patterns of racial and gender inequality that marked the beginning of the Civil Rights era have been replaced by workplace-level inequality regimes that are shaped by labor-market, legal, political, and normative environments. Documenting Desegregation is a landmark contribution to our understanding of the shifting character of inequality in American society.”
—Robert L. Nelson, Northwestern University

Enacted nearly fifty years ago, the Civil Rights Act codified a new vision for American society by formally ending segregation and banning race and gender discrimination in the workplace. But how much change did the legislation actually produce? As employers responded to the law, did new and more subtle forms of inequality emerge in the workplace? In an insightful analysis that combines history with a rigorous empirical analysis of newly available data, Documenting Desegregation offers the most comprehensive account to date of what has happened to equal opportunity in America—and what needs to be done in order to achieve a truly integrated workforce.

Weaving strands of history, cognitive psychology, and demography, Documenting Desgregation provides a compelling exploration of the ways legislation can affect employer behavior and produce change. Authors Kevin Stainback and Donald Tomaskovic-Devey use a remarkable historical record—data from more than six million workplaces collected by the U.S. Equal Employment Opportunity Commission (EEOC) since 1966—to present a sobering portrait of race and gender in the American workplace. Progress has been decidedly uneven: black men, black women, and white women have prospered in firms that rely on educational credentials when hiring, though white women have advanced more quickly. And white men have hardly fallen behind—they now hold more managerial positions than they did in 1964. The authors argue that the Civil Rights Act's equal opportunity clauses have been most effective when accompanied by social movements demanding changes. EEOC data show that African American men made rapid gains in the 1960s at the height of the Civil Rights movement. Similarly, white women gained access to more professional and managerial jobs in the 1970s as regulators and policymakers began to enact and enforce gender discrimination laws. By the 1980s, however, racial desegregation had stalled, reflecting the dimmed status of the Civil Rights agenda. Racial and gender employment segregation remain high today, and, alarmingly, many firms, particularly in high-wage industries, seem to be moving in the wrong direction and have shown signs of resegregating since the 1980s. To counter this worrying trend, the authors propose new methods to increase diversity by changing industry norms, holding human resources managers to account, and exerting renewed government pressure on large corporations to make equal employment opportunity a national priority.

At a time of high unemployment and rising inequality, Documenting Desegregation provides an incisive re-examination of America's tortured pursuit of equal employment opportunity. This important new book will be an indispensable guide for those seeking to understand where America stands in fulfilling its promise of a workplace free from discrimination.

KEVIN STAINBACK is assistant professor of sociology at Purdue University.

DONALD TOMASKOVIC-DEVEY is professor of sociology at the University of Massachusetts Amherst.

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Cover image of the book For Love and Money
Books

For Love and Money

Care Provision in the United States
Editor
Nancy Folbre
Paperback
$45.00
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6 in. × 9 in. 304 pages
ISBN
978-0-87154-353-0
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“Nancy Folbre and her colleagues have crafted an integrated, far-ranging, and incisive analysis of the contours, meaning, and possible solutions to the mounting care work crisis. A group of stellar contributors offers a treasure trove of information and ideas about how to define, measure, and value care work in all its myriad and often hidden forms. It is an understatement to say that For Love and Money is essential for anyone who cares about care work. Even more, any serious effort to address the care vacuum facing market societies should begin with this book.”
—Kathleen Gerson, New York University

“For Love and Money is a rich and innovative examination of the broad care landscape, including both paid and unpaid care, in the United States. The authors look at care work in depth and in breadth—from child care to care of people with disabilities and frail older adults. They draw a picture of care work as an activity in which all participate and all benefit. This inclusive perspective should inform public policy in the future.”
—Carol Levine, United Hospital Fund

“Based on a successful interdisciplinary effort, For Love and Money synthesizes and then moves well beyond—both theoretically and empirically—earlier analyses of care work. Rejecting the conventional frame that separates love and money, the authors insist on and convey the connections and similarities between paid and unpaid care. Making giant steps towards delineating a new paradigm, the book intelligently considers issues of definition, measurement, motive, amount, form, and value of care work as well as clearly lays out the inadequacies of current policies that address it. The authors show the ways care work is shaped by gender inequality and make a convincing case that gender equality depends on improved care provision. Wide-ranging yet careful, For Love and Money should become a key resource for scholars, activists, and policymakers concerned with helping Americans of all ages get the care we need.”
—Naomi Gerstel, University of Massachusetts Amherst

As women moved into the formal labor force in large numbers over the last forty years, care work – traditionally provided primarily by women – has increasingly shifted from the family arena to the market. Child care, elder care, care for the disabled, and home care now account for a growing segment of low-wage work in the United States, and demand for such work will only increase as the baby boom generation ages. But the expanding market provision of care has created new economic anxieties and raised pointed questions: Why do women continue to do most care work, both paid and unpaid? Why does care work remain low paid when the quality of care is so highly valued? How effective and equitable are public policies toward dependents in the United States? In For Love and Money, an interdisciplinary team of experts explores the theoretical dilemmas of care provision and provides an unprecedented empirical overview of the looming problems for the care sector in the United States.

Drawing on diverse disciplines and areas of expertise, For Love and Money develops an innovative framework to analyze existing care policies and suggest potential directions for care policy and future research. Contributors Paula England, Nancy Folbre, and Carrie Leana explore the range of motivations for caregiving, such as familial responsibility or limited job prospects, and why both love and money can be efficient motivators. They also examine why women tend to specialize in the provision of care, citing factors like job discrimination, social pressure, or the personal motivation to provide care reported by many women. Suzanne Bianchi, Nancy Folbre, and Douglas Wolf estimate how much unpaid care is being provided in the United States and show that low-income families rely more on unpaid family members for their child and for elder care than do affluent families. With low wages and little savings, these families often find it difficult to provide care and earn enough money to stay afloat. Candace Howes, Carrie Leana and Kristin Smith investigate the dynamics within the paid care sector and find problematic wages and working conditions, including high turnover, inadequate training and a “pay penalty” for workers who enter care jobs. These conditions have consequences: poor job quality in child care and adult care also leads to poor care quality. In their chapters, Janet Gornick, Candace Howes and Laura Braslow provide a systematic inventory of public policies that directly shape the provision of care for children or for adults who need personal assistance, such as family leave, child care tax credits and Medicaid-funded long-term care. They conclude that income and variations in states’ policies are the greatest factors determining how well, and for whom, the current system works. Despite the demand for care work, very little public policy attention has been devoted to it. Only three states, for example, have enacted paid family leave programs.

Paid or unpaid, care costs those who provide it. At the heart of For Love and Money is the understanding that the quality of care work in the United States matters not only for those who receive care but also for society at large, which benefits from the nurturance and maintenance of human capabilities. As care work gravitates from the family to the formal economy, this volume clarifies the pressing need for America to fundamentally rethink its care policies and increase public investment in this increasingly crucial sector.

NANCY FOLBRE is professor of economics at the University of Massachusetts, Amherst.

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Cover image of the book Family Consequences of Children's Disabilities
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Family Consequences of Children's Disabilities

Author
Dennis Hogan
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$37.50
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132 pages
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978-0-87154-457-5
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A Volume in the American Sociological Association’s Rose Series in Sociology

Winner of the 2012 Otis Dudley Duncan Award for Outstanding Scholarship in Social Demography

“Dennis Hogan harnesses a plethora of data sources to document the pervasive effects of childhood disability from a family perspective. This comprehensive book highlights the very real challenges that children and youth with disabilities and their families face, demonstrating the ways in which public and private supports can ease or exacerbate those challenges.”
—Valerie Leiter, Simmons College 

“Dennis Hogan has written a ground-breaking study of the consequences that raising a child with a disability has for family life. His empathy for these families is clear, and his analyses are rigorous and insightful. I know of no other treatment of the subject that is like it.”
—Andrew J. Cherlin, Johns Hopkins University 

“Families encounter events that may produce a new way of life, such as care of a disabled child. Dennis Hogan grew up in such a household and wondered about the family impact. Twenty years after his doctorate, he gained access to relevant population data and launched a project to address this question with a research team. The result is an unparalleled study for families of these children, for practitioners, and for students of the family. It richly illuminates the extraordinary challenges and gifts of this family experience.”
—Glen H. Elder, Jr., University of North Carolina at Chapel Hill

The Americans with Disabilities Act (ADA) and other national policies are designed to ensure the greatest possible inclusion of people with disabilities in all aspects of American life. But as a matter of national policy we still place the lion's share of responsibility for raising children with disabilities on their families. While this strategy largely works, sociologist Dennis Hogan maintains, the reality is that family financial security, the parents' relationship, and the needs of other children in the home all can be stretched to the limit. In Family Consequences of Children's Disabilities Hogan delves inside the experiences of these families and examines the financial and emotional costs of raising a child with a disability. The book examines the challenges families of children with disabilities encounter and how these challenges impact family life.

The first comprehensive account of the families of children with disabilities, Family Consequences of Children's Disabilities employs data culled from seven national surveys and interviews with twenty-four mothers of children with disabilities, asking them questions about their family life, social supports, and how other children in the home were faring. Not surprisingly, Hogan finds that couples who are together when their child is born have a higher likelihood of divorcing than other parents do. The potential for financial insecurity contributes to this anxiety, especially as many parents must strike a careful balance between employment and caregiving. Mothers are less likely to have paid employment, and the financial burden on single parents can be devastating. One-third of children with disabilities live in single-parent households, and nearly 30 percent of families raising a child with a disability live in poverty.

Because of the high levels of stress these families incur, support networks are crucial. Grandparents are often a source of support. Siblings can also assist with personal care and, consequently, tend to develop more helpful attitudes, be more inclusive of others, and be more tolerant. But these siblings are at risk for their own health problems: they are three times more likely to experience poor health than children in homes where there is no child with a disability. Yet this book also shows that raising a child with a disability includes unexpected rewards—the families tend to be closer, and they engage in more shared activities such as games, television, and meals.

Family Consequences of Children's Disabilities offers access to a world many never see or prefer to ignore. The book provides vital information on effective treatment, rehabilitation, and enablement to medical professionals, educators, social workers, and lawmakers. This compelling book demonstrates that every mirror has two faces: raising a child with a disability can be difficult, but it can also offer expanded understanding.

DENNIS HOGAN is Robert E. Turner Distinguished Professor of Population Studies at Brown University.

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Cover image of the book From Parents to Children
Books

From Parents to Children

The Intergenerational Transmission of Advantage
Editors
John Ermisch
Markus Jäntti
Timothy M. Smeeding
Paperback
$69.95
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Publication Date
524 pages
ISBN
978-0-87154-045-4
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“Parents’ socioeconomic status affects later child outcomes in all of the advanced nations studied in this fascinating book, but nowhere is this relationship stronger than in the United States. How can we make children’s life chances more equal without interfering with the rights of parents and the efficiency of the economy? This book does not provide all of the answers but it contains a wealth of data and analysis with important implications for both research and policy. From Parents to Children is a tour de force.”
—Isabel Sawhill, senior fellow, The Brookings Institution

“Intergenerational transmission of resources and rewards has gained more interest with the increase in income inequality during the last thirty years. In this book a number of first-rate scholars review how outcomes depend on various conditions in childhood. The role of parental socioeconomic and educational resources as well as that of societal institutions, like child care and schools, is studied for several countries in America and Europe. This broad perspective gives every reader, regardless of prior knowledge, an increased understanding of the mechanisms through which parental advantage is transferred to children.”
—Robert Erikson, Stockholm University

Does economic inequality in one generation lead to inequality of opportunity in the next? In From Parents to Children, an esteemed international group of scholars investigates this question using data from ten countries with differing levels of inequality. The book compares whether and how parents' resources transmit advantage to their children at different stages of development and sheds light on the structural differences among countries that may influence intergenerational mobility.

How and why is economic mobility higher in some countries than in others? The contributors find that inequality in mobility-relevant skills emerges early in childhood in all of the countries studied. Bruce Bradbury and his coauthors focus on learning readiness among young children and show that as early as age five, large disparities in cognitive and other mobility-relevant skills develop between low- and high-income kids, particularly in the United States and the United Kingdom. Such disparities may be mitigated by investments in early childhood education, as Christelle Dumas and Arnaud Lefranc demonstrate. They find that universal pre-school education in France lessens the negative effect of low parental SES and gives low-income children a greater shot at social mobility. Katherine Magnuson, Jane Waldfogel, and Elizabeth Washbrook find that income-based gaps in cognitive achievement in the United States and the United Kingdom widen as children reach adolescence. Robert Haveman and his coauthors show that the effect of parental income on test scores increases as children age; and in both the United States and Canada, having parents with a higher income betters the chances that a child will enroll in college.

As economic inequality in the United States continues to rise, the national policy conversation will not only need to address the devastating effects of rising inequality in this generation but also the potential consequences of the decline in mobility from one generation to the next. Drawing on unparalleled international datasets, From Parents to Children provides an important first step.

JOHN ERMISCH is professor of family demography at Oxford University.

MARKUS JäNTTI is professor of economics at the Swedish Institute for Social Research, Stockholm University.

TIMOTHY M. SMEEDING is director of the Institute for Research on Poverty, University of Wisconsin-Madison.

CONTRIBUTORS: Silke Anger, Lars Bergman, Erik Bihagen, Paul Bingley, Anders Bjorklund, Jo Blanden, Bruce Bradbury, Massimiliano Bratti, Lorenzo Cappellari, Miles Corak, Emilia Del Bono, Kathryn Duckworth, Christelle Dumas, Greg J. Duncan, Olaf Groh-Samberg, Robert Haveman, John Jerrim, Jan O. Jonsson, Ilan Katz, Katja Kokko, Arnaud Lefranc, Henning Lohmann, Anna-Liisa Lyyra, Katherine Magnuson, Molly Metzger, John Micklewright, Carina Mood, Martin Nybom, Frauke H. Peter, Patrizio Piraino, Lea Pulkkinen, Gerry Redmond, John Roemer, Sharon Simonton, C. Katharina Spiess, Jane Waldfogel, Eizabeth Washbrook, Niels Westergard-Nielsen, James A. Wilson, Kathryn Wilson.

 

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